[Jefferies: Tether's Gold Holdings Have Appreciated by Over $5 Billion] According to a report by Golden Finance citing the *Financial Times*, Tether's gold holdings have appreciated by over $5 billion as gold prices hit record highs. Based on data disclosed by Tether and estimated by Jefferies Group, as of the end of September, Tether held approximately 116 tons of gold, valued at around $14.4 billion at the time. Last September, the price of gold was $3,858 per ounce, but amid rising geopolitical uncertainty and investors flocking to safe-haven assets, it has now surged to over $5,200 per ounce. This indicates that Tether has achieved an appreciation of over $5 billion in this portion of its holdings.