Tether, the world's largest stablecoin issuer, purchased approximately 6 metric tons of gold for its reserves in the first quarter, down from 27 tons in the October-December period, according to the quarterly report released on Friday.



The crypto company's reserves to back Tether USDT hold gold worth $19.8 billion as of March 31, equivalent to about 132 metric tons at the market price at that time, compared to 126 tons at the end of December.

Tether has $189.5 billion worth of USDT tokens in circulation and Tether gold tokens $XAUT worth $3.3 billion in circulation. Each dollar token represents one US dollar held in reserve, with the company holding assets of equivalent value when users provide dollars in exchange for USDT.
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