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Tether releases its first Tether Gold audit report: market capitalization of approximately $770 million.
Tether released its first XAU₮ (Tether Gold) audit report, showing the growth of the token's circulation, with every XAU₮ in circulation backed by an equal amount of pure gold (246,523.33 ounces is equivalent to more than 7.7 tons of gold). The report, issued by BDO Italy, an independent auditor, confirms Tether's gold reserves. According to Tether, the growth of XAU₮ reflects rising investor interest in digital tokens backed by physical assets amid the changing monetary environment. In addition, Tether also plans to increase transparency in the future, including the regular release of audit reports and reserve updates.