Tether has quietly built one of the world’s largest private gold portfolios, according to new analysis from Jefferies. Indeed, the scale of its holdings now places the stablecoin issuer ahead of all non-state buyers and close to the reserves of several sovereign central banks.

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S&P Global Ratings, the American credit rating agency, has assigned Tether its lowest possible rating, drawing a strong rebuttal from the company behind the world’s most widely used dollar-pegged token. S&P Issues ‘Weak’ Assessment for USDT On Wednesday, S&P Global Ratings assigned Tether its lowest stablecoin risk rating: “5 (weak)”.

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