Leading Stablecoin Issuer Tether Invests $89,000,000 Into Precious Metals Royalty Company To Deepen Exposure to Gold

Description

The issuer of the largest stablecoin by market cap just acquired significant holdings with a gold-focused royalty company listed in Canada. In a statement, Elemental Altus says that Tether just completed the purchase of 78,421,780 common shares at a price of C$1.55, or around $1.14 per share, for a total of C$125,553,759, or about $89 million. The acquisition represents approximately 31.9% of the precious metals royalty firm’s issued and outstanding common shares. Tether already owns 4,360,511 s...