“TETHER REFERRED TO INCREASING ITS Exposure to Gold As A “Dual Pillar Strategy”, Alongside ITS Holdings of Over 100,000 BTC”, – WRITE: www.coindesk.com
TETHER INVESTMENTS IS AIMING TO DIVERSIFY The assets that Back ITS Stablecoin USDT, The World’s Largest Such Token with Accorging to and Announcement on Tuesday.
Tether Acquired 78,421,780 Common Shares in Elemental From La Mancha Investments, A LUXEMBURG-BASED MINING INVESTMENT FIRM.
Elemental’s Toronto-Listed Shares Spiked Nearly 23% to 1.77 Canadian Dollars ($ 1.30) Following the Announcement. They Closed AT 1.53 Canadian Dollars on Wednesday, 6.25% Higher than Before Tether’s Investment. AT Press Time, Tether’s Stake Is Worth Nearly $ 88 Million.
CEO PAOLO ARDOINO SAID The INVESTMENT, WHICH SAW TETHER TAKE A STAKE OF AROUND 33.7% STAKE IN ELEmental
“Elemental’s Royalty Model Provides Diversified Exposure to Gold Production Around the World, Aligning Strategic with Our Vision For Tether Gold and Future Commodu. Added.
TETHER REFERRED TO INCREASING ITS EXPOSURE TO GOLD as A “Dual Pillar Strategy”, Alongside ITS Holdings of Over 100,000 BTC ($ 10.7 Billion).
With Regulation of Stablecoins on the Horizon in the Us, Issuers Such as Tether Are Preparing for Requirements to Be Compliment Wen It Com!
This Could Extend to Diversification of Assets. IT WAS SUGGESTED BY JPMORGAN EARLIER THAT THAT TETHER COURCK
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