New Wallet Withdraws $2.95 Million in Tether Gold (XAUT) from OKX and Bybit

Onchain Lens reports a Gnosis Safe wallet withdrew 577.5 Tether Gold tokens, totaling about $2.95 million, highlighting continued large-scale movements in tokenized gold assets across major exchanges.

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Summary

On March 6, 2025, blockchain analytics platform Onchain Lens reported that a Gnosis Safe wallet withdrew 577.5 Tether Gold (XAUT) tokens, valued at approximately $2.95 million, from OKX and Bybit exchanges. Each XAUT token represents one ounce of physical gold, making this a notable transaction in the tokenized gold market.

Terms & Concepts
  • Tether Gold (XAUT): A stablecoin backed by physical gold reserves, representing ownership of one fine troy ounce of gold per token.
  • Gnosis Safe: A smart contract-based multisignature wallet that allows multiple parties to approve transactions for enhanced security.
  • Onchain Lens: A blockchain analytics platform that monitors on-chain transactions for transparency and market insights.