On-chain analyst Ai Yi flagged two sizable XAUT withdrawals: 4,200 XAUT worth $17.53 million moved out of Bitfinex at a reported withdrawal price of $4,150.68 per token, and 952.56 XAUT worth $3.93 million moved out of Binance over the past two days at an average withdrawal price of $4,128.6. PANews reported on July 8 that the Binance-linked address, 0xD20…62953, had previously made $170,000 on a gold swing in March 2023 when XAUT was at $1,872 and $4.428 million from an ETH swing in late April and early May. XAUT, or Tether Gold, is a tokenized gold product, and large exchange outflows can indicate assets being moved into private custody rather than held on trading venues.