The post Tether Eyes New Division for Gold-Backed Crypto Investments appeared on BitcoinEthereumNews.com. Key Points: Tether plans new division for XAUT investments, raising capital. Involves Antalpha, focuses on gold-backed crypto assets. Potential $20 billion funding in progress, major market impacts. Tether plans to form a digital asset investment division to manage its XAUT token, expanding into gold-backed cryptocurrency, as per Bloomberg on October 4, 2023. This initiative aims to raise capital and enhance gold-crypto exposure, impacting institutional investment and market liquidity. Tether’s Bold $20B Investment Plan for Gold-Backed Crypto Tether is set to create a digital asset investment division focused on XAUT, its tokenized gold product. This step is part of a strategy to deepen exposure to gold-backed digital assets. Aiming to raise substantial capital, Tether is targeting up to $20 billion in investment. The division is taking shape in collaboration with Antalpha, an affiliate of Bitmain. By expanding this collaboration, Tether looks to tap into new revenue streams and institutional interest, while enhancing the capital market’s trust in gold-backed tokens. Market reactions remain largely anticipatory, with industry stakeholders keenly observing potential impacts. Paolo Ardoino, CEO of Tether, has acknowledged the strategic scale-up but has not provided specific funding details publicly. “We are evaluating a raise from a selected group of high-profile key investors, to maximize the scale of the company’s strategy across all existing and new business lines (stablecoins, distribution ubiquity, AI, commodity trading, energy, communications, media) by several orders of magnitude.” Tokenized Gold Surges Amid Economic Uncertainty Trends Did you know? Tether’s consideration to enhance XAUT’s strategic importance reflects historical precedence of demand spikes for tokenized gold during economic uncertainty, paralleling post-2008 financial crisis trends. According to CoinMarketCap, Tether Gold (XAUt) has a current trading price of $3,892.99, with a market cap of approximately $960 million. It holds a 24-hour trading volume of around $62.19 million, reflecting a decrease of 39.39%.… The post Tether Eyes New Division for Gold-Backed Crypto Investments appeared on BitcoinEthereumNews.com. Key Points: Tether plans new division for XAUT investments, raising capital. Involves Antalpha, focuses on gold-backed crypto assets. Potential $20 billion funding in progress, major market impacts. Tether plans to form a digital asset investment division to manage its XAUT token, expanding into gold-backed cryptocurrency, as per Bloomberg on October 4, 2023. This initiative aims to raise capital and enhance gold-crypto exposure, impacting institutional investment and market liquidity. Tether’s Bold $20B Investment Plan for Gold-Backed Crypto Tether is set to create a digital asset investment division focused on XAUT, its tokenized gold product. This step is part of a strategy to deepen exposure to gold-backed digital assets. Aiming to raise substantial capital, Tether is targeting up to $20 billion in investment. The division is taking shape in collaboration with Antalpha, an affiliate of Bitmain. By expanding this collaboration, Tether looks to tap into new revenue streams and institutional interest, while enhancing the capital market’s trust in gold-backed tokens. Market reactions remain largely anticipatory, with industry stakeholders keenly observing potential impacts. Paolo Ardoino, CEO of Tether, has acknowledged the strategic scale-up but has not provided specific funding details publicly. “We are evaluating a raise from a selected group of high-profile key investors, to maximize the scale of the company’s strategy across all existing and new business lines (stablecoins, distribution ubiquity, AI, commodity trading, energy, communications, media) by several orders of magnitude.” Tokenized Gold Surges Amid Economic Uncertainty Trends Did you know? Tether’s consideration to enhance XAUT’s strategic importance reflects historical precedence of demand spikes for tokenized gold during economic uncertainty, paralleling post-2008 financial crisis trends. According to CoinMarketCap, Tether Gold (XAUt) has a current trading price of $3,892.99, with a market cap of approximately $960 million. It holds a 24-hour trading volume of around $62.19 million, reflecting a decrease of 39.39%.…