Tether parts ways with ex-HSBC gold traders amid KPMG audit: Bloomberg
The Block
Tether has separated from two senior precious metals traders from HSBC during a financial overhaul and ongoing KPMG audit.Summary
Tether has terminated the employment of Vincent Domien and Mathew O’Neill, two senior precious metals traders previously hired from HSBC to expand its bullion business and generate revenue beyond its stablecoin operations. Their departure follows Tether’s accumulation of approximately 140 tons of gold, worth tens of billions of dollars, and plans to lend out its gold reserves. This restructuring coincides with KPMG’s first full audit of Tether, launched after the 2024 USDT release, and the company’s consideration of tokenizing up to $20 billion in external funding, which is currently paused pending the audit’s completion.
(Source：The Block)