Tether suddenly "slowed down gold accumulation," and the signals behind it are not simple: true risk control is always more important than returns

Tether significantly slowed its pace of gold purchases in the first quarter of 2026—only adding about 6 tons this quarter, compared to 27 tons in the fourth quarter of last year, a substantial decrease.
As of the end of March, the gold reserves backing USDT had reached approximately 132 tons (about $19.8 billion), accounting for about 10% of the total reserves. The current core assets remain the impressive U.S. Treasury bonds worth about $117 billion, with Bitcoin reserves around $7 billion.
Meanwhile, the gold reserves for the gold stablecoin XAUT increased to about 22 tons, with the two products holding a total of approximately 154 tons of gold.
Looking at a few key points simply:
First, gold is still increasing, but the pace has clearly slowed;
Second, the asset structure still leans toward "stability," with government bonds remaining the core;
Third, gold is more like a hedging tool rather than the main battlefield.
It is worth noting that Tether previously planned to allocate about 10%-15% of its approximately $20 billion investment portfolio to physical gold, but the trading team responsible for this operation was dissolved in March this year, involving management structure adjustments behind the scenes.
This sends a very direct signal:
It’s not that they are pessimistic about gold, but that at this stage, they emphasize controlling the pace and risk more.
Many market participants only focus on "how much has been bought," but overlook "why less is being bought now."
Truly mature funds are never driven by emotion but by rhythm. #WCTC交易王PK #美国寻求战略比特币储备 #比特币ETF期权持仓限额增4倍 $BSB $PRL