Name: Crypto Weekly: Tether's gold rush, crypto money launderers hit record
Uploaded: 2026-01-29T17:08:08.000Z
Duration: 1 min 53 s
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From Tether's moves to gold to money laundering records.

This is Crypto weekly Tether plans to allocate 10 to 15% of its investment portfolio to physical gold.

That's according to the crypto group's CEO, Paolo Ardoino.

El Salvador headquartered Tether said it has about 130 metric tons of physical gold to back its products.

Ardoino told Reuters that it's been buying around two tons a week.

It bought large amounts of gold last year to back the Tether USDT stake.

Stablecoin, a digital dollar with $186 billion worth of tokens in circulation.

US dollar backed crypto tokens known as stablecoins could pull around $500 billion in deposits out of US banks by the end of 2028.

That's according to an estimate from Standard Chartered.

The new analysis could intensify a fight between banks and crypto companies over legislation.

Hoping to deal with the clash, the White House will reportedly meet with executives from the banking and crypto industries to discuss landmark legislation, three people familiar with the matter said.

The summit, hosted by Washington's Crypto Council, will include executives from several trade groups.

Legislation has so far stalled due to a clash between the two powerful sectors.

Donald Trump's administration wants to get the legislation across the line.

Researchers say money launderers received at least $82 billion in cryptocurrencies last year.

That's up sharply from $10 billion in 2020.

Blockchain researchers say the fastest growing category was Chinese language money laundering networks, adding that the networks emerged during the pandemic and processed almost $40 million worth of crypto per day in 2025.