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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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📅 End at: July 9, 16:00 UTC
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Tether holds $8 billion worth of gold in a secret vault in Switzerland.
On July 9, Bloomberg reported that Tether Holdings SA, the world's largest stablecoin issuer, has its own vault in Switzerland, storing $8 billion worth of gold and looking to expand its gold reserves. The cryptocurrency company headquartered in El Salvador stated that it currently holds nearly 80 tons of gold. The vast majority is directly held by Tether, making it one of the largest gold holders in the world, aside from banks and nations. Tether's CEO Paolo Ardoino stated, "We have our own vault. I believe it is the safest vault in the world." The facility is located in Switzerland, but for security reasons, the company refused to disclose its exact location and date of establishment.