---Earlier;---Tether now holds more gold than most countries, which makes the quiet death of its smallest gold product oddly easy to miss. The remaining 18.8 billion dollars is held in physical gold, more than 146 metric tons of bullion stored in a private Swiss vault, after the company added 14 tons during the quarter. That holding puts Tether ahead of many national reserves and cements its position as the largest known private holder of physical gold outside of central banks and sovereign governments. Alloy's own statistics list only five open positions left, with about 399,089 aUSDT still outstanding against 194.41 units of Tether Gold worth roughly 836,000 dollars held as collateral. Measured against total Tether Gold in circulation, the amount ever locked in Alloy was minor, with one illustration from the wind down announcement suggesting only around 3,000 dollars of every 10,000 dollars in circulating Tether Gold value was ever inside the platform.