Summary
- Paolo Ardoino, Tether (USDT) CEO, has fully denied recent allegations of selling Bitcoin (BTC) and buying gold.
- Ardoino said he maintains the existing strategy of allocating profits to various assets such as BTC, gold, and land.
- Tether's net holdings for Q2 and July combined were confirmed to have actually increased by more than 10,000 BTC.
Paolo Ardoino, Tether (USDT) chief executive officer (CEO), denied recent claims that Tether had sold Bitcoin (BTC) and purchased gold.
On the 7th (local time), according to crypto (cryptocurrency) news outlet Cointelegraph, Ardoino said on X (formerly Twitter) "We did not sell any BTC" and stated that "we maintain a strategy of allocating profits to various assets such as BTC, gold, and land."
Earlier, YouTuber Clive Thomson claimed that Tether bought $1.6 billion worth of gold last quarter while selling $1 billion worth of BTC, but the actual decrease in BTC holdings (92,650 BTC → 83,274 BTC) was due to transfers to Tether affiliate XXI.
Meanwhile, Tether's net holdings for Q2 and July combined were confirmed to have actually increased by more than 10,000 BTC.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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