BREAKING: Tether purchased +14 tonnes of gold in Q2 2026, bringing total holdings to a record 146 tonnes, now worth ~$18.8 billion. This follows gold purchases of +53 tonnes between Q3 2025 and Q1 2026. Tether’s gold holdings have more than doubled since Q1 2025, while their value has nearly tripled over the same period. This makes the company the largest known private holder of gold outside of central banks and governments. In the first half of 2026, only 4 central banks bought more gold than Tether: Poland, Uzbekistan, China, and Kazakhstan. Tether is now competing with central banks for gold after the correction.(The Kobeissi Letter)