Cryptocurrency companies supported by reform donors lose £1.5 billion as gold plummets

CoinNetwork · 2026-03-27T17:55:49+00:00

Stablecoin issuer Tether has lost $2 billion in its gold reserves due to falling gold prices, currently holding 148 tons of gold. Tether plans to purchase $1 billion worth of gold each month to increase its proportion in the portfolio and has hired KPMG for an audit.

CoinNetwork

2026-03-27 17:55:49

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The stablecoin issuer Tether, primarily owned by billionaire Christopher Harborne, has lost $2 billion in the value of its gold reserves due to a 9.3% decline in gold prices since January. The world’s largest corporate gold buyer held 148 tons of gold worth $23.3 billion as of January 31. CEO Paolo Ardoino stated that Tether aims to increase the allocation of gold in its portfolio to 15%, purchasing approximately $1 billion each month. Although the company made a profit of $10 billion last year and has $6.3 billion in excess reserves, S&P previously rated its mechanism tied to the US dollar as “weak,” citing its holdings of more volatile assets like gold and Bitcoin. Currently, Tether has engaged KPMG for a comprehensive audit.

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