Tether, the stablecoin issuer, announced an increase of approximately 27 tons of gold holdings in the fourth quarter of 2025, maintaining a similar scale to the third quarter. The current circulation of USDT stands at around $187 billion, with reserves primarily in U.S. Treasuries and gold accounting for about 7%. Tether's gold-backed stablecoin, XAUT, is fully supported by physical gold, amounting to 16.2 tons by the end of 2025, representing about 60% of the global gold stablecoin supply. Tether's CEO noted that their gold investment scale is comparable to that of some sovereign nations.