Tether holds 148 tons of gold as stablecoins face 13% risk

At the Digital Money Summit 2026, institutional managers warned that privately issued stablecoins such as Tether and USDC carry material financial and systemic risks, prompting calls for tighter EU oversight. Analysts highlighted past de-peg episodes — USDC fell to $0.74 on multiple days in March 2024 and dropped 13% in 2023 — and said reserve mixes containing volatile assets (gold, Bitcoin) undermine stability. Tether reportedly holds 148 tons of gold (~$23bn), making it a top-30 global gold holder; critics say such reserve diversity raises the prospect of large losses and liquidity stress for corporate treasuries and institutional investors. Regulators are considering stricter reserve and transparency rules, which could materially affect stablecoin market structure and usage in institutional cash management.