FT: One of the world's most profitable crypto companies wants to invest in gold mining
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The world's largest stablecoin issuer Tether is considering investing in gold mining. About writes Financial Times.

According to the newspaper, the company has already been in talks with several investment and mining groups about investing in mines, processing, trading, and royalty companies.

Tether CEO Paolo Ardoino calls gold a "natural bitcoin" and considers it a more reliable asset than any currency.

The company already holds $8.7 billion worth of gold bullion in a Swiss vault, which it uses as collateral for its coins.

Tether manages the USDT token pegged to the US dollar. Its market capitalization reaches $168 billion. In the first half of this year alone, the company earned $5.7 billion in revenue.

Tether is also one of the largest holders of US government bonds and earns billions in interest from them.

In June, Tether bought a stake in Elemental Altus, a Canadian gold royalty company, and last week invested another $100 million in the business.

At the same time, the gold mining industry is skeptical of Tether's plans. Experts doubt that a company known in the crypto market will be able to successfully operate in the traditional sector.