• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Crypto Market Structure Bill: Senate Sources Indicate Draft Release As Soon As Tomorrow
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Market Structure Bill: Senate Sources Indicate Draft Release As Soon As Tomorrow
USDT

Inside Tether’s Vaults: 82,000 Bitcoin And 48 Tons Of Gold Safeguard USDT

Christian Encila
by Christian Encila
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Tether’s USDT is the world’s largest stablecoin, with a market cap nearing $100 billion. However, like many top blockchain projects, Tether has been the subject of many questions and inquiries. And for Tether, most of the questions swirl around its reserves, which serve as its primary selling point.

Related Reading: Gensler Called ‘Worst Public Servant’ In Scathing Remarks By Ripple Co-Founder

Acknowledging these concerns, Tether’s CEO Paolo Ardoino finally broke the ice and disclosed that the company boasts more than 82,000 Bitcoins and 48 tons of gold to back its USDT in circulation. Ardoino shared this information on a Twitter/X post dated October 27th, 2024, in response to many questions about the company’s USDT reserves.

JUST IN : Tether CEO confirms their reserves hold a total of 82,454 BTC and 48.3 tons of gold. 💰📈 #Tether #Bitcoin @LuganoPlanB pic.twitter.com/QRCi1hqMO2

— Tran Hung (@spaftu) October 26, 2024

Ardoino Speaks At Lugano Plan B Event

Tether’s CEO clarified USDT’s reserves in a follow-up to his earlier statements at the Lugano Plan B Event. The event was a collaboration between Lugano in Switzerland and Tether to boost the use and adoption of Bitcoin technology to fast-track the city’s financial transformation.

As one of the event’s keynote speakers, Ardoino discussed Tether’s products and explained that his company boasts over $100 billion in US Treasuries backing its stablecoin. He also explained that USDT is fully supported, and to clarify the confusion; he further said that Tether also boasts 82,000 BTC with an additional 48 tons of precious metal.

USDT market cap currently at $120.1 billion. Chart: TradingView

CEO Clarifies USDT Reserves

Ardoino’s full accounting of Tether’s reserve generated a lot of attention and comments from the crypto community. Most comments highlight Tether’s commitment to maintaining a solid and diverse reserve for its USDT. Others say that having gold as part of the reserve is wise, saying that this makes Tether’s stablecoin “better than the US dollar.”

Hi, those 48 tons of gold, that’s great as it gives stability to USDT.
May I ask, 48 tons of gold in which form?

Is it allocated bullion? If yes, where is it vaulted? Is it audited?
Or is it gold derivatives? like e.g. ETFs shares? Unallocated account? Futures/swaps/options?…

— Kinesis Gold (@KinesisGold) October 27, 2024

However, a few commenters are asking for more information. Some of these comments highlight the need for corporate transparency, particularly on how it handles its gold or how these reserves are audited. One Twitter/X user even questioned Tether if the gold listed under its reserves is gold bullion or simply derivatives.

Image: Binance Academy
Related Reading: Fake Bitcoin ETF Post Lands Man Plea Deal In SEC Hack Case

Tether Recovers, Gets Positive Market Reaction

Ardoino’s recent clarifications on Tether’s reserves are connected to the growing questions surrounding the company. Recently, there have been reports that Tether is the subject of a US Department of Justice investigation. Tether immediately shot down these reports, calling them pure speculation.

To address questions and allay investor fears, Tether has partnered with law enforcement globally to stop crypto-related crimes. The company has also boosted the transparency of its reserves and continues to tease the market with new products and services.

Recently, Tether introduced a local AI development kit for writing and using AI systems for different devices. Ardoino shared that the latest product features promote privacy and are anchored on peer-to-peer technology, allowing users to write codes across devices that run on powerful microchips.

Featured image from Pexels, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Cardano CEO: Peter Schiff heeft ongelijk over BTC, Bitcoin koers naar $1M

Cardano CEO: Peter Schiff heeft ongelijk over BTC, Bitcoin koers naar $1M

7 hours ago
maxi doge

Ο CZ επέστρεψε και ανεβάζει τα meme coins – Και αυτό το νέο κουτάβι μπορεί να είναι το επόμενο

8 hours ago
Ο Michael Saylor προβλέπει Bitcoin στα $150.000 το 2025 – Το επερχόμενο ράλι μπορεί να εκτοξεύσει το Bitcoin Hyper

Ο Michael Saylor προβλέπει Bitcoin στα $150.000 το 2025 – Το επερχόμενο ράλι μπορεί να εκτοξεύσει το Bitcoin Hyper

9 hours ago
Crypto

Warren’s Letter To SEC Chair: Crypto In 401(k)s Poses Threat To Americans’ Retirement

9 hours ago
Francúzsko Bitcoin národná rezerva 2 % BTC

Francúzsko chce nakúpiť 2 % celkovej ponuky Bitcoinov do národnej kryptomenovej rezervy

10 hours ago
Założyciel Binance planuje pozew

Założyciel Binance grozi pozwem senator Warren

10 hours ago

Premium Sponsors

Press Releases

  • Is Staking Crypto Worth It? XRP Tundra Presale Offers 12% APY

    Is Staking Crypto Worth It? XRP Tundra Presale Offers 12%...

    10 hours ago
  • Crypto Predictions Favor Tundra as XRP Ecosystem Catalyst

    Crypto Predictions Favor Tundra as XRP Ecosystem Catalyst

    10 hours ago
  • Bitcoin Hyper

    Докато Биткойн се търгува на $113K...

    12 hours ago
  • weex-welcome-promo-800-usdt-tested-for-beginners-tw

    新手別錯過:測試了WEEX迎新活動 領到800...

    12 hours ago
  • Deleion Capital Launches Mobile App for Passive Crypto Earning for Diversified & Profitable Investments

    Deleion Capital Launches Mobile App for Passive Crypto...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.