Tether accounted for nearly 2% of global gold demand last quarter, with Jefferies noting that its aggressive buying may be influencing short-term market sentiment. Stablecoin issuer Tether holds 116 tonnes of physical gold, placing it on par with central banks such as those in South Korea, Hungary and Greece.Tether is “the largest holder of gold outside central banks,” Jefferies wrote in a recent analysis, per a report by the Financial Times. The banking giant added that Tether’s growing appetite for gold may be playing a far larger role in the metal’s recent surge than previously assumed.According to Jefferies, Tether’s gold purchases last quarter accounted for nearly 2% of total global gold demand and almost 12% of central bank purchases. The firm said that Tether’s aggressive accumulation over the past two months “is likely to have tightened supply in the short term and influenced sentiment,” potentially driving speculative inflows into gold markets.Read more Tether accounted for nearly 2% of global gold demand last quarter, with Jefferies noting that its aggressive buying may be influencing short-term market sentiment. Stablecoin issuer Tether holds 116 tonnes of physical gold, placing it on par with central banks such as those in South Korea, Hungary and Greece.Tether is “the largest holder of gold outside central banks,” Jefferies wrote in a recent analysis, per a report by the Financial Times. The banking giant added that Tether’s growing appetite for gold may be playing a far larger role in the metal’s recent surge than previously assumed.According to Jefferies, Tether’s gold purchases last quarter accounted for nearly 2% of total global gold demand and almost 12% of central bank purchases. The firm said that Tether’s aggressive accumulation over the past two months “is likely to have tightened supply in the short term and influenced sentiment,” potentially driving speculative inflows into gold markets.Read more

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more