Tether has laid off two senior gold traders who were previously poached from HSBC.

PANews reported on March 31 that, according to Bloomberg, stablecoin issuer Tether Holdings has dismissed two senior precious metals traders, Vincent Domien and Mathew O’Neill, whom it had poached from HSBC several months ago. The two were previously hired to help build the “world’s best gold trading desk” and assist Tether in accumulating gold reserves valued at tens of billions of dollars. The report says both have left the company as part of Tether’s restructuring of its gold trading team. Previously, Tether had been expanding its gold holdings and related trading business through this team.