According to @EmberCN, stablecoin issuer Tether has invested C$121.6 million ($89.2 million) to acquire a one-third stake in Elemental Altus (ELE), a publicly listed precious metals investment company. This strategic move is aimed at diversifying the assets backing its USDT stablecoin, expanding into tangible assets like gold, as stated in the official announcement. Following the news, Elemental's Toronto-listed shares (ELE) surged nearly 23%. Tether CEO Paolo Ardoino highlighted that the investment reflects confidence in gold's fundamentals and aligns with the company's vision for Tether Gold and future commodity-backed digital assets. This diversification occurs alongside Tether's significant Bitcoin (BTC) holdings and as the company prepares for potential U.S. stablecoin regulations that may require broader asset backing.

According to @lookonchain, stablecoin issuer Tether has diversified its reserves by purchasing a one-third stake in the publicly listed gold investment company Elemental Altus (ELE) for C$121.6 million ($89.2 million). This strategic acquisition is part of Tether's plan to expand the assets backing its USDT stablecoin into tangible assets like precious metals, as stated in an official announcement. The market reacted positively, with Elemental's Toronto-listed shares (ELE) spiking nearly 23% after the news. Tether's CEO, Paolo Ardoino, noted that the investment aligns with their vision for Tether Gold and reflects confidence in gold's fundamental role in financial markets. This move is also viewed as preparation for potential U.S. stablecoin regulations that may require asset diversification, which could impact Tether's substantial Bitcoin (BTC) holdings, as the source mentioned that JPMorgan had previously suggested Tether might need to sell some of its BTC to comply with proposed rules.

According to @lookonchain, stablecoin issuer Tether has diversified its reserves by purchasing a one-third stake in the publicly listed gold investment company Elemental Altus (ELE) for C$121.6 million, or approximately $89.2 million. This strategic move is intended to strengthen the backing of its USDT stablecoin by expanding into tangible assets like precious metals, complementing its significant Bitcoin (BTC) holdings of over 100,000 BTC. Tether CEO Paolo Ardoino stated this investment aligns with the company's vision for Tether Gold and future commodity-backed digital assets. The acquisition comes as stablecoin issuers prepare for potential U.S. regulations that may mandate greater asset diversification, a development that could influence the management of Tether's crypto and traditional asset reserves.

According to Paolo Ardoino, Tether's CEO, Tether Investments acquired a one-third stake in Elemental Altus for $89.2 million to diversify assets backing USDT, as stated in the announcement. This investment increases gold exposure to support Tether Gold and future commodity-backed digital assets, with Elemental's shares surging 23% post-announcement. Tether's dual strategy includes over 100,000 BTC holdings, and JPMorgan indicated potential BTC sales may be needed for US stablecoin regulation compliance.

According to Paolo Ardoino, Tether invested C$121.6 million ($89.2 million) for a one-third stake in Elemental Altus to gain diversified exposure to gold, as stated in the announcement. This move aligns with Tether's dual strategy to bolster USDT reserves with tangible assets amid potential regulatory pressures, which could necessitate selling some of its 100,000 BTC holdings worth $10.7 billion, as suggested by JPMorgan. Elemental's shares surged 23% following the news, highlighting market sensitivity to such investments.

According to Tether's announcement on Tuesday, the stablecoin issuer invested C$121.6 million ($89.2 million) for a one-third stake in Elemental Altus to diversify USDT reserves into gold, enhancing asset backing as U.S. regulations loom. This move signals a strategic shift toward tangible assets, potentially impacting BTC holdings if compliance requires divestment, as suggested by JPMorgan earlier this year. Elemental shares surged 23% post-announcement, reflecting market confidence in gold's role in stabilizing crypto markets.