Great article, would you like

Like
Comment
Favorite

Great article, would you like to share it?

Tether Dismisses Two Gold Traders Shortly After High-Profile Recruitment from HSBC

The stablecoin giant Tether has dissolved its gold trading team, which was previously recruited from HSBC. According to a Bloomberg report on March 31 citing informed sources, Tether has terminated...

Tether Dismisses Two Gold Traders Shortly After High-Profile Recruitment from HSBC

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

Top
Latest

No comments yet

Most Discussed

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":563553903170520,"tweetId":"563553903170520","gmtCreate":1778619620935,"gmtModify":1778619624964,"author":{"id":4239848770737892,"idStr":"4239848770737892","authorId":4239848770737892,"authorIdStr":"4239848770737892","name":"wowie11c11","avatar":"https://static.tigerbbs.com/default-avatar2.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":2,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","html":"<html><head></head><body>Great article, would you like to share it?</body></html>","htmlText":"<html><head></head><body>Great article, would you like to share it?</body></html>","text":"Great article, would you like to share it?","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/563553903170520","repostId":1156794349,"repostType":2,"repost":{"id":"1156794349","kind":"news","weMediaInfo":{"introduction":"Global Stock Market Deep Analysis","home_visible":1,"media_name":"Deep News","id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"pubTimestamp":1775004460,"share":"https://ttm.financial/m/news/1156794349?lang=en_US&edition=fundamental","pubTime":"2026-04-01 08:47","market":"sh","language":"en","title":"Tether Dismisses Two Gold Traders Shortly After High-Profile Recruitment from HSBC","url":"https://stock-news.laohu8.com/highlight/detail?id=1156794349","media":"Deep News","summary":"The stablecoin giant Tether has dissolved its gold trading team, which was previously recruited from HSBC. According to a Bloomberg report on March 31 citing informed sources, Tether has terminated...","content":"<p>The stablecoin giant Tether has dissolved its gold trading team, which was previously recruited from HSBC. According to a Bloomberg report on March 31 citing informed sources, Tether has terminated the employment of senior precious metals traders Vincent Domien and Mathew O'Neill, both of whom joined the company just a few months earlier after leaving HSBC Holdings.</p>\n<p>The reasons for their departure remain unclear. Their hiring coincided with a record year of gold acquisitions by Tether, during which the company's purchases nearly surpassed those of all central banks combined. In response to inquiries from Bloomberg News, Tether stated that the company remains committed to maintaining a lean team and continuously optimizing its operations.</p>\n<p>This personnel change comes as Tether faces pressure from a recent correction in gold prices. In March, influenced by geopolitical tensions in the Middle East, crude oil prices surged while the gold market experienced its worst monthly performance since 2008. Against this backdrop, the price of crude oil measured in gold terms rose sharply during the month, breaking a multi-year downward trend.</p>\n<p>The recruitment of Domien and O'Neill initially drew significant attention in the gold market. Both held senior roles at HSBC, with Domien overseeing global metals trading and O'Neill serving as a top salesperson. Tether brought them on board with the goal of professionalizing its gold reserve management and generating returns through active management of gold assets. The company publicly expressed ambitions to build \"the world’s best gold trading desk.\"</p>\n<p>Their hiring aligned with Tether’s record-breaking gold purchasing spree, which exceeded the acquisitions of nearly all central banks. However, gold prices came under pressure in March due to multiple factors, including a sell-off triggered by conflict involving Iran, rising expectations of interest rate hikes, and reports of at least one central bank reducing its gold holdings. The simultaneous decline in both gold and Bitcoin has put pressure on Tether’s investment portfolio.</p>\n<p>Analysts suggest that Tether may be scaling back its team size after completing its strategic gold accumulation. The company currently employs approximately 300 people. This move also highlights a broader trend in the commodities industry, where trading firms have aggressively recruited talent from traditional banking institutions that have long dominated the gold market. For instance, Mercuria Energy Group hired Benjamin Binet-Laisne from Goldman Sachs, while Gunvor Group brought in a group of traders from multiple institutions.</p>\n<p>The personnel changes in Tether’s gold team coincide with a critical phase in the company’s own transformation. This month, Tether announced that it has engaged a major accounting firm to conduct its first comprehensive financial audit. At the same time, the company’s plan to raise up to $20 billion in external funding has been put on hold pending the outcome of the audit.</p>\n<p>Tether is the issuer of USDT, the world’s largest U.S. dollar-pegged stablecoin, with a circulating supply of approximately $1.84 trillion. As of early this year, the company held around 140 metric tons of gold, primarily used to back USDT and its smaller gold-pegged stablecoin, XAUT.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tether Dismisses Two Gold Traders Shortly After High-Profile Recruitment from HSBC</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTether Dismisses Two Gold Traders Shortly After High-Profile Recruitment from HSBC\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2026-04-01 08:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The stablecoin giant Tether has dissolved its gold trading team, which was previously recruited from HSBC. According to a Bloomberg report on March 31 citing informed sources, Tether has terminated the employment of senior precious metals traders Vincent Domien and Mathew O'Neill, both of whom joined the company just a few months earlier after leaving HSBC Holdings.</p>\n<p>The reasons for their departure remain unclear. Their hiring coincided with a record year of gold acquisitions by Tether, during which the company's purchases nearly surpassed those of all central banks combined. In response to inquiries from Bloomberg News, Tether stated that the company remains committed to maintaining a lean team and continuously optimizing its operations.</p>\n<p>This personnel change comes as Tether faces pressure from a recent correction in gold prices. In March, influenced by geopolitical tensions in the Middle East, crude oil prices surged while the gold market experienced its worst monthly performance since 2008. Against this backdrop, the price of crude oil measured in gold terms rose sharply during the month, breaking a multi-year downward trend.</p>\n<p>The recruitment of Domien and O'Neill initially drew significant attention in the gold market. Both held senior roles at HSBC, with Domien overseeing global metals trading and O'Neill serving as a top salesperson. Tether brought them on board with the goal of professionalizing its gold reserve management and generating returns through active management of gold assets. The company publicly expressed ambitions to build \"the world’s best gold trading desk.\"</p>\n<p>Their hiring aligned with Tether’s record-breaking gold purchasing spree, which exceeded the acquisitions of nearly all central banks. However, gold prices came under pressure in March due to multiple factors, including a sell-off triggered by conflict involving Iran, rising expectations of interest rate hikes, and reports of at least one central bank reducing its gold holdings. The simultaneous decline in both gold and Bitcoin has put pressure on Tether’s investment portfolio.</p>\n<p>Analysts suggest that Tether may be scaling back its team size after completing its strategic gold accumulation. The company currently employs approximately 300 people. This move also highlights a broader trend in the commodities industry, where trading firms have aggressively recruited talent from traditional banking institutions that have long dominated the gold market. For instance, Mercuria Energy Group hired Benjamin Binet-Laisne from Goldman Sachs, while Gunvor Group brought in a group of traders from multiple institutions.</p>\n<p>The personnel changes in Tether’s gold team coincide with a critical phase in the company’s own transformation. This month, Tether announced that it has engaged a major accounting firm to conduct its first comprehensive financial audit. At the same time, the company’s plan to raise up to $20 billion in external funding has been put on hold pending the outcome of the audit.</p>\n<p>Tether is the issuer of USDT, the world’s largest U.S. dollar-pegged stablecoin, with a circulating supply of approximately $1.84 trillion. As of early this year, the company held around 140 metric tons of gold, primarily used to back USDT and its smaller gold-pegged stablecoin, XAUT.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"159934":"黄金ETF","518880":"黄金ETF华安","CRCD":"T-REX 2X Inverse CRCLDaily Target ETF","CRCG":"2倍做多CRCL ETF-Leverage Shares","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","LU0106831901.USD":"贝莱德世界金融基金A2","CRCO":"YIELDMAX CRCL OPTION INCOME STRATEGY ETF","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","BK4535":"淡马锡持仓","BK4585":"ETF&股票定投概念","BK4521":"英国银行股","BK4504":"桥水持仓","ICRC":"Bitwise CRCL Option Income Strategy ETF","GLD":"黄金ETF-SPDR","CCUP":"T-REX 2x Long CRCL Daily Target ETF","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU1861217088.USD":"贝莱德金融科技A2","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC","BK4207":"综合性银行","NUGT":"二倍做多黄金矿业指数ETF-Direxion","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","LU0496365809.HKD":"TEMPLETON GLOBAL INCOME \"A\" (HKD) INC (Q)","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","BK4023":"应用软件","HSBH":"HSBC Holdings plc ADRhedged","LU0211326755.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) ACC","LU0976567544.SGD":"FTIF - Templeton Global Income A Mdis SGD-H1","BK4588":"碎股","CRCA":"Proshares Ultra CRCL","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156794349","content_text":"The stablecoin giant Tether has dissolved its gold trading team, which was previously recruited from HSBC. According to a Bloomberg report on March 31 citing informed sources, Tether has terminated the employment of senior precious metals traders Vincent Domien and Mathew O'Neill, both of whom joined the company just a few months earlier after leaving HSBC Holdings.\nThe reasons for their departure remain unclear. Their hiring coincided with a record year of gold acquisitions by Tether, during which the company's purchases nearly surpassed those of all central banks combined. In response to inquiries from Bloomberg News, Tether stated that the company remains committed to maintaining a lean team and continuously optimizing its operations.\nThis personnel change comes as Tether faces pressure from a recent correction in gold prices. In March, influenced by geopolitical tensions in the Middle East, crude oil prices surged while the gold market experienced its worst monthly performance since 2008. Against this backdrop, the price of crude oil measured in gold terms rose sharply during the month, breaking a multi-year downward trend.\nThe recruitment of Domien and O'Neill initially drew significant attention in the gold market. Both held senior roles at HSBC, with Domien overseeing global metals trading and O'Neill serving as a top salesperson. Tether brought them on board with the goal of professionalizing its gold reserve management and generating returns through active management of gold assets. The company publicly expressed ambitions to build \"the world’s best gold trading desk.\"\nTheir hiring aligned with Tether’s record-breaking gold purchasing spree, which exceeded the acquisitions of nearly all central banks. However, gold prices came under pressure in March due to multiple factors, including a sell-off triggered by conflict involving Iran, rising expectations of interest rate hikes, and reports of at least one central bank reducing its gold holdings. The simultaneous decline in both gold and Bitcoin has put pressure on Tether’s investment portfolio.\nAnalysts suggest that Tether may be scaling back its team size after completing its strategic gold accumulation. The company currently employs approximately 300 people. This move also highlights a broader trend in the commodities industry, where trading firms have aggressively recruited talent from traditional banking institutions that have long dominated the gold market. For instance, Mercuria Energy Group hired Benjamin Binet-Laisne from Goldman Sachs, while Gunvor Group brought in a group of traders from multiple institutions.\nThe personnel changes in Tether’s gold team coincide with a critical phase in the company’s own transformation. This month, Tether announced that it has engaged a major accounting firm to conduct its first comprehensive financial audit. At the same time, the company’s plan to raise up to $20 billion in external funding has been put on hold pending the outcome of the audit.\nTether is the issuer of USDT, the world’s largest U.S. dollar-pegged stablecoin, with a circulating supply of approximately $1.84 trillion. As of early this year, the company held around 140 metric tons of gold, primarily used to back USDT and its smaller gold-pegged stablecoin, XAUT.","news_type":1,"symbols_score_info":{"159934":1,"518880":1,"HSBH":1,"NUGT":1,"CRCG":1,"CRCA":1,"CCUP":1,"ICRC":1,"SGCmain":1,"USDT":1,"GLD":1,"CRCD":1,"CRCO":1,"SGUmain":1}},"isVote":1,"tweetType":1,"viewCount":30,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":35,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}