Bloomberg: Tether Holds $8 Billion Worth of Gold in Secret Swiss Vault

Stablecoin issuer Tether Holdings SA owns its own vault in Switzerland, storing $8 billion worth of gold, and is looking to expand its gold reserves. The El Salvador-based cryptocurrency company says it currently holds nearly 80 tons of gold, the vast majority of which is held directly by Tether, making it one of the world's largest gold holders outside of banks and nations. Tether CEO Paolo Ardoino said, "We have our own vault. I believe it is the safest vault in the world." The facility is located in Switzerland, but the company declined to disclose its exact location and establishment date for security reasons. (Bloomberg) [Odaily Planet Daily]