RT Robert Baggs (@rkbaggs)Truly one of the most illuminating conversations we've had on DATs of any description. Björn Schmidtke(@pA1nD), CEO at @AurelionGlobal chatted to @gazza_jenks and me about being the first @tethergold treasury and why XAUt makes a lot of sense...https://t.co/zho2JQItGR ...

Core Insights - Gold prices have experienced a significant decline, with a market capitalization loss of nearly $2.5 trillion, marking the largest two-day drop since 2013, trading at $4,058.19 per ounce, down 0.97% [1] - The total market cap of tokenized gold has decreased by approximately 7% in the past 24 hours, standing at $3.8 billion [2] Tokenized Gold Performance - Tether Gold (XAUt) saw a price drop of 4% in 24 hours, trading at $4,040.85 [3] - PAX Gold (PAXG) fell by 3.9%, with a trading price of $4,090.41, each token backed by one troy ounce of gold stored in LBMA vaults [3] - Kinesis Gold (KAU) decreased by more than 4%, trading at $131.19, with each token backed by 1 gram of gold [4] - VeraOne (VRO) was the most affected, dipping over 7% in 24 hours, trading at $129.83, with each token backed by 1 gram of LBMA gold [4]

Core Insights - The convergence of digital currencies and traditional assets has led to the rise of gold-backed crypto tokens, also known as "tokenized gold," which combine the stability of gold with blockchain technology [1] Market Demand and Growth - The price of gold is reaching new all-time highs, driving increased demand for gold-backed tokens, with over $30 million worth of Tether Gold (XAUt) purchased by two crypto whales recently [2] - The total volume of tokenized gold has surged to approximately $3 billion, up from less than $500 million at the beginning of the year, with daily trading volumes exceeding $600 million [3] Characteristics of Gold-Backed Tokens - Gold-backed cryptocurrencies are digital tokens whose value is directly linked to physical gold held in reserve, typically representing ownership of one troy ounce or a fraction of it [4] - These tokens are stored by certified custodians, while the issuer retains legal ownership and commits to redeeming gold upon presentation of the token [5] Investor Appeal - Given the volatility of cryptocurrencies, gold-backed tokens may attract conservative investors seeking stability and real-world value, contrasting with more speculative assets like Bitcoin and Ethereum [5][6] - Tokenized gold offers digital convenience for traditional investors, including 24/7 trading and instant settlement, while maintaining the familiarity of a tangible asset [6] Leading Examples - Tether Gold (XAUt) and PAX Gold (PAXG) are among the top-performing gold-backed tokens in a market with a capitalization close to $3 billion [7]

Core Insights - Tether Gold (XAUt) is approaching a market capitalization of $1.5 billion, currently at approximately $1.46 billion, backed by 966 gold bars weighing 11,693.4 kilograms [1] - The total minted supply of XAUt is 375,572.25 ounces, with 261,961.71 ounces (valued at around $1.01 billion) in circulation and 113,610.54 ounces available for sale [2] - The rise in XAUt's market value is aligned with a record-breaking increase in spot gold prices, which recently reached an all-time high of $3,896.49, driven by investor demand for safety amid economic uncertainties [3] Market Performance - Tether Gold has appreciated nearly 46% over the past year and 10% in the last month, positioning it among the top 100 cryptocurrencies by market capitalization [4] - The demand for tokenized gold like XAUt is increasing as investors seek more liquid and accessible alternatives to traditional gold holdings [4] Strategic Developments - Tether is planning to raise at least $200 million for a new Digital Asset Treasury Company (DATCO) focused on tokenized gold, in partnership with Antalpha [5] - DATCO will hold Tether's XAUt tokens and aims to enhance institutional participation in tokenized gold [6] - Tether has previously collaborated with Antalpha, acquiring an 8.1% equity stake and expanding their partnership to improve access to XAUt through collateralized lending and vault services [7] Industry Investments - Tether is diversifying its investments in the gold sector, having invested over $200 million in Elemental Altus and is in discussions with other global mining and royalty companies [8]

Core Insights - Tether Gold (XAUt) has surpassed a market capitalization of $1 billion, reflecting increased investor interest in tokenized real-world assets, driven by a significant rise in gold prices [1][2] - The market value of XAUt grew due to the underlying asset, with its total value crossing the billion-dollar mark at the beginning of October 2025 [2] - The success of XAUt and Paxos Gold (PAXG) indicates a duopoly in the digital gold market, providing investors with two billion-dollar options for blockchain-based gold exposure [3] Market Dynamics - XAUt's gold backing is held separately from Tether's general reserves, which include an additional $8.7 billion in gold bars supporting other stablecoins [3] - Regulatory oversight differs between the two tokens, with PAXG being issued by a regulated U.S. firm, while XAUt is issued by a Tether subsidiary licensed in El Salvador [4] - Transparency and reporting standards vary, as Paxos provides monthly audited reserve reports, whereas Tether offers quarterly attestations conducted by BDO Italia [5] User Base and Trading Volume - PAXG has a larger user base with over 74,000 holders and a daily trading volume of approximately $67 million, indicating stronger retail adoption [6] - XAUt has a more concentrated ownership with just over 12,000 holders and a daily volume of about $23 million, suggesting it may appeal more to larger, crypto-native holders or institutions [6] - The trends in user base and trading volume are significant as high gold prices could attract new investors to the digital gold space [6]