Tether accounted for almost 2% of global gold demand last quarter, with Jefferies noting that its aggressive buying may be influencing short-term market sentiment. Stablecoin issuer Tether holds 116 tons of physical gold, placing it on par with central banks such as those in South Korea, Hungary and Greece. Tether is “the largest holder of gold outside central banks,” Jefferies wrote in a recent analysis, per a report by the Financial Times. The investment bank added that Tether’s growing appetite for gold may be playing a larger role in the metal’s recent surge than previously assumed. According to Jefferies, Tether’s gold purchases last quarter accounted for nearly 2% of total global gold demand and almost 12% of central bank purchases. The company said that Tether’s aggressive accumulation over the past two months “is likely to have tightened supply in the short term and influenced sentiment,” potentially driving speculative inflows into gold markets. Read more
Eunice will trial standardized crypto disclosure templates with major exchanges, feeding real-world data into the UK’s evolving 2026 rulebook. The United Kingdom’s Financial Conduct Authority (FCA) approved regulatory technology (RegTech) company Eunice to run experiments in its sandbox, which offers one of the clearest indications yet of how the country intends to build its forthcoming crypto rulebook. On Wednesday, the FCA announced that Eunice will test a set of standardized crypto disclosure templates with major exchanges, including Coinbase, Crypto.com and Kraken. The company will test whether the templates improve transparency when used in real-world settings. The FCA also highlighted that its regulatory sandbox is still accepting applications from companies looking to test their ideas. “We encourage any firm to apply who are looking to test a similar solution to help inform our regulatory approach to cryptoassets,” said Colin Payne, the head of innovation at the FCA. Read more
A special ceremony was held at Joint Staff Headquarters on Wednesday to bid farewell to the country’s last Chairman of the Joint Chiefs of Staff Committee (CJCSC), General Sahir Shamshad Mirza, who has completed 40 years of service, the military’s media wing said in a statement. Gen Mirza’s tenure as CJCSC will end on November 27 (tomorrow), as the office will be abolished as per the recent 27th Constitutional Amendment. He has conducted farewell visits to both civilian and military leadership in the past several days. According to the Inter-Services Public Relations (ISPR), the outgoing CJCSC was presented with a guard of honour by a contingent comprising personnel from the three services. The event was attended by former CJCSCs and senior military officers from the army, navy and air force. A contingent of soldiers from the three services present a guard of honour to outgoing CJCSC General Sahir Shamshad Mirza at Joint Staff Headquarters on November 26. — Screengrab via ISPR “In his address, the outgoing CJ...