Nikolas Sargeant
In a significant disclosure at the Plan ₿ Forum in Lugano, Switzerland, Tether CEO Paolo Ardoino has revealed the extensive composition of the company's reserves, including $100 billion in US Treasuries, 82,000 Bitcoin, and 48 tonnes of gold.
Reserve Composition and Market Response
The revelation came in response to inquiries from Uquid's CEO Tran Hung, sparking discussions within the crypto community about the diversification of Tether's assets. While many praised the stability that gold reserves bring to USDT, questions emerged about custody arrangements and audit procedures for these substantial holdings.
Addressing Regulatory Concerns
The disclosure follows recent Wall Street Journal allegations regarding federal scrutiny over potential sanctions violations. Ardoino firmly rejected these claims, stating they are "unequivocally false" and highlighting Tether's proactive approach to law enforcement cooperation.
Key achievements in regulatory compliance include:
- Recovery of approximately $109 million in USDT from illicit activities over 10 years.
- Regular collaboration with global law enforcement agencies.
- Active participation in regulatory discussions, including recent engagement at DC Fintech Week.
