Tether is set to bolster its gold reserves by recruiting two top executives from HSBC, according to Bloomberg. Vincent Domien, HSBC's Global Head of Metals Trading, and Mathew O’Neill, Head of Precious Metals, are expected to join Tether in the coming months. This move is part of Tether's strategy to expand its presence in the precious metals market and challenge traditional industry giants. As of September, Tether's reserves report indicates it holds over $12 billion in gold, making it one of the largest gold holders globally, outside of banks and sovereign nations.