Bankless

ROLLUP: Gold & Silver ATHs | Fidelity’s Stablecoin | Ethereum’s Quantum Pivot | Tether Buys Gold

24 snips
Jan 30, 2026
They unpack gold and silver hitting all-time highs and what that means for markets and crypto. They reveal Tether’s growing role as a major gold holder and discuss a weaker dollar narrative. They cover Fidelity’s new onchain dollar and Tether’s USA₮ move. They highlight Ethereum’s resurgence, its quantum-resistance push, and a massive MegaETH stress test. Plus mainstream prediction markets and a bizarre $40M crypto theft.
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INSIGHT

Precious Metals Parabola Reprices Risk

  • Gold and silver ran to record highs driven by dollar weakness and political risk, briefly outpacing crypto returns.
  • The move reprices store-of-value assets and challenges crypto's narrative as the only inflation hedge.
INSIGHT

Dollar Reserve Share Is Falling

  • Dollar share of global reserves has declined from ~71% to ~56%, prompting institutions to diversify into other currencies and gold.
  • This structural shift supports sustained demand for non-dollar stores of value.
INSIGHT

Tether Acts Like A Central Bank

  • Tether now holds 140 tons of gold ($23B) and plans 10–15% treasury allocation to gold, becoming a top global holder.
  • Tether's balance-sheet strategy resembles a central bank, shifting reserves into physical assets.
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