Tether CEO Paolo Ardoino has publicly addressed and dismissed circulating claims that the firm sold Bitcoin for gold. The controversy erupted on September 6, after YouTuber Clive Thompson suggested that Tether had quietly altered its investment strategy.
Citing the company’s statements of assets, Thompson alleged that the firm had sold over $1 billion worth of Bitcoin while acquiring $1.6 billion in gold during the last quarter. He suggested this was evidence that the firm was dumping Bitcoin in favor of gold, which led to speculation that the world’s largest stablecoin issuer was losing confidence in BTC.
Transfers Mistaken for Sell-Off
Online chatter around the claim surged, drawing reactions from prominent figures in the crypto industry. Long-time BTC advocate and Jan3 CEO Samson Mow stepped in to correct the narrative and pointed out that Thompson’s analysis overlooked a crucial detail.
According to Mow, Tether’s Bitcoin holdings indeed appeared lower in its Q2 2025 attesta
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