Tether: the $180bn gold whale
Plus, a lawsuit from billionaire Patrick Drahi takes up the novel antitrust theory roiling credit stand-offs
Related reading
Tether scores $5bn windfall as gold price rockets
Stablecoin group holds more bullion than many central banks and is one of biggest winners from blistering rally
Tether targets $500bn valuation with $20bn private funding round
Deal would make crypto operator one of world’s most valuable privately owned companies
‘What do you do with all that money?’ Tether plots its global expansion
One of crypto’s biggest players has grand plans to deploy its large profits
Tether retreats from $20bn funding ambitions after investor pushback
CEO Paolo Ardoino downplays the scale of $185bn stablecoin group’s capital raise
Separating the signal from the noise in private credit
What matters most is how capital was deployed and underwritten
S&P downgrades Tether’s assets to lowest level
Rating agency cites rising exposure to high-risk assets and lack of disclosures