Tether Corners Gold Supply Chain with $150M Stake in Gold.com (NYSE: GOLD)
Stablecoin giant secures vertical integration with the former A-Mark Precious Metals, locking in 12% equity as Bitcoin markets bleed.
While the broader crypto market liquidated $1 billion in leverage yesterday, Tether was busy buying the infrastructure that underpins its flight-to-safety assets. The stablecoin issuer has executed a definitive agreement to acquire a 12% stake in Gold.com (NYSE: GOLD) for $150 million, effectively verticalizing the supply chain for its gold-backed token, XAU₮.
The Deal Mechanics
Tether is purchasing 3.37 million common shares at $44.50 per share. This pricing represents an 11.9% discount to the stock’s 10-day volume-weighted average price (VWAP). The transaction grants Tether a seat on the board of directors, cementing its influence over one of the largest precious metals trading platforms in the U.S.
The investment validates our strategy to be the vertically integrated leader in physical bullion… expanding our reach beyond traditional bullion into digital gold.
. Greg Roberts, CEO of Gold.com
Institutional Context: It’s A-Mark, Rebranded
To understand the weight of this deal, look past the generic "Gold.com" domain. The target entity is the recently rebranded A-Mark Precious Metals, a logistics and minting giant that has served as a primary dealer for the U.S. Mint since 1986. Tether isn’t just buying a website; they are buying into a 60-year-old logistics network that includes JM Bullion, Monex, and secure depositories.
By securing a $100 million gold-leasing facility as part of the deal, Tether reduces counterparty risk for XAU₮ reserves. If you control the mint, the vault, and the token, you control the spread.
Market Reaction
The equity markets reacted favorably to the liquidity injection, with GOLD shares holding the $50 level in after-hours trading despite the discounted purchase price. Conversely, XAU₮ tracked the broader crypto selloff, slipping 4% to $4,765, though it outperformed Bitcoin, which plummeted nearly 12% in the same period.
Gold.com committed to reinvesting $20 million of the proceeds directly back into XAU₮, a circular liquidity provision that deepens the token’s order book while signaling institutional adoption of the asset class.
