Tether has emerged as one of the biggest winners from this year’s record-breaking gold rally, booking a gain of more than 5 billion dollars on its bullion holdings while reigniting scrutiny over the risk profile behind the world’s largest stablecoin. According to the Financial Times, Tether held about 116 tonnes of gold at the end of September, according to estimates based on its public disclosures, a position then worth roughly 14.4 billion dollars. Since then, the price of gold has surged from about 3,858 dollars per troy ounce to above 5,200 dollars, lifting the value of that stash by more than 5 billion dollars ... (full story)