Tether Gold Token Backed by 7.7 Tons of Physical Gold: Report
Tether Gold's market value has surpassed $800 million as investors seek safe-haven assets amid inflation concerns. As of March 31, Tether Gold had a market capitalization of $770 million, backed by over 7.7 tons of gold, with the price of XAUT trading at approximately $3,123. The price has since risen to $3,344, increasing the market cap to around $825 million. Tether's CEO stated that XAUT aims to become the standard tokenized gold product. The rise in Tether Gold's value coincides with a 7% increase in gold prices following U.S. tariff proposals. Central banks are also increasing gold reserves, with 29% planning to do so in the next year. Concerns persist regarding Tether's financial reporting, as the recent attestation from BDO Italia lacks compliance with international standards, leading to calls for independent audits. BDO Italia has faced scrutiny and fines for its auditing practices.
