Tether has poached two senior gold traders from HSBC to reflect its growing ambition and help manage its activities in the gold market.
Last year, when these two senior gold traders from HSBC left, there was much speculation in the industry about their next destination, and few guessed it would be Tether. 😂 What a comedy 🎭 Stablecoin companies need unstable gold as anchor reserves... According to media reports, most of the approximately 140 tons of gold is Tether's own reserves, as well as the physical gold backing its gold tokens. 🤔