Tether cuts top gold traders months after hiring them from HSBC

By Jack Ryan and Archie Hunter Bloomberg News Tuesday, March 31, 2026 Tether Holdings SA has cut two senior precious metals traders who had joined from HSBC Holdings Plc just months ago as part of the stablecoin issuer's plan to build "the best trading floor for gold in the world." Vincent Domien and Mathew O'Neill, who were poached by the El Salvador-based crypto firm as it built a gold hoard worth tens of billions of dollars, have both been released by Tether, according to people familiar with the matter. ... Dispatch continues below ... ... ADVERTISEMENT ... Buy, Sell, or Store Precious Metals with Money Metals Exchange Money Metals Exchange, a national bullion dealer recently named "Best Overall" by Investopedia.com -- https://www.moneymetals.com/news/2021/02/01/best-overall-precious-metals-dealer-002213 -- is a great low-cost source for precious metals coins, rounds, and bars. Money Metals also pays handsomely when you wish to sell your precious metals. Shop online with Money Metals Exchange here -- https://www.moneymetals.com/buy -- or by calling 1-800-800-1865. Meanwhile, Money Metals Depository will store your precious metals in a segregated account at low cost: https://www.moneymetals.com/depository The reason for their departure was not immediately clear. Both previously had senior roles at HSBC, Domien as the bank's global head of metals trading and O'Neill as a top salesperson. "Tether always strives to operate with a lean team, and to continuously optimize our operations," the company said in an emailed response to questions from Bloomberg News. "We have been building a state-of-the-art gold team that leverages expertise gathered from all of Tether's recent investments." ... ... For the remainder of the report: https://www.bloomberg.com/news/articles/2026-03-31/tether-cuts-top-gold-traders-months-after-hiring-them-from-hsbc * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png