Tether Gold Market Cap Surpasses $2 Billion Milestone

Tether’s Q3 attestation shows 375,572 ounces of gold reserves worth $1.44 billion, with 522,089 XAUT in circulation and additional tokens available for sale.

XAUT

Fact Check
The evidence overwhelmingly supports the statement that the market capitalization of Tether Gold surpassed $2 billion. The most authoritative source, an official press release from Tether itself, directly announces this milestone. This claim is independently verified by multiple high-authority, live data sources, including Kraken and CoinMarketCap, which both show the current market capitalization to be in excess of $2 billion. Furthermore, several secondary news sources from crypto-focused platforms like Phemex and MiTRADE corroborate the announcement. There is one source that provides a contradictory data point (~$1.5B). However, this data point is an outlier when weighed against the official announcement from the issuer and live data from two of the largest crypto data aggregators. It is highly probable that this single conflicting figure is outdated, erroneous, or misinterpreted. The consistency and authority of the multiple sources confirming the statement provide a high degree of confidence in its truthfulness.
Summary

In its Q3 2024 certificate, Tether confirmed that Tether Gold (XAUT) is backed by 375,572 troy ounces of gold valued at $1.44 billion as of September 30. There are 522,089 tokens in circulation and 139,751 tokens available for sale. Rising gold prices have since pushed the reserve market value to $2.1 billion. XAUT, together with PAX Gold, dominates 90% of the $3.7 billion tokenized gold market, providing blockchain-based gold ownership without the need for physical custody.

Terms & Concepts
  • Tether Gold (XAUT): A blockchain-based token pegged to physical gold, each representing ownership of a fine troy ounce stored in secure Swiss vaults.
  • Tokenized Asset: A physical asset represented digitally via blockchain, allowing fractional ownership and easier transferability.