Swiss Gold Vault Shenanigans: Tether’s $8 Billion Stash and the Great Stablecoin Drama
Our earnest narrator in this little pageant is one Paolo Ardoino, Tether’s CEO and the only man in history brave enough to declare a vault “the most secure in the world” without so much as a nervous glance at the nearest Swiss gendarme. “Gold,” Ardoino intoned, exuding the quiet confidence of someone who’s played too much Monopoly, “should logically be a safer asset than any national currency.” The logic, presumably, being that gold has the decency not to hyperinflate or elect eccentric presidents. This latest foray follows Tether’s previous flirtation with 7.7 tons of gold—thus, by the inexorable mathematics of bravado, achieving a healthy eighty tons by March. How dreadfully enterprising. 🏦