🚀 From $USDT to Gold: Tether’s Next Big Expansion Gold .com now gets most of its precious-metals lease financing from Tether. By the end of June, the dealer owed Tether about $1.45B, against roughly $1.7B of total outstanding metal leases. That changes the story around Tether’s gold holdings: instead of only sitting in reserves, part of that bullion is now being leased into the physical gold market and generating a return. The relationship goes further: → Tether owns about 13% of Gold .com → Gold .com buys and sells metals with Tether → it provides storage and logistics → Gold .com also bought $20M of $XAUt 📊 The economics are interesting too. The original $100M gold lease was priced at 1.75% annually, versus roughly 6% for Gold .com's bank credit facility at the time. So the new part isn’t that Tether owns a lot of gold, we knew that. It’s that Tether is starting to use gold as financial infrastructure - not just as a reserve asset. #Macro Insights# #Gold #Tether