Gold hits $5,300 as Tether stacks bullion and Coinbase pushes futures
Tether increases physical gold holdings to 130 metric tons while Coinbase promotes futures trading as Bitcoin lags and gold tops $5,300 per ounce.
As gold prices surged to $5,300 this week, Tether and Coinbase — the two companies behind the world’s largest US dollar stablecoins — are taking different approaches to gaining exposure to the precious metal.
Spot gold climbed above $5,300 per ounce on Wednesday, posting a record high of $5,311 at 3:30 am UTC, according to TradingView data.
Amid the rally, Tether, issuer of USDt (USDT), the world’s largest stablecoin, doubled down on its gold accumulation, while Coinbase, a key partner in the USDC (USDC) stablecoin consortium, promoted access to gold futures on its platform.