Tether CEO Reacts As Binance Lists Tether Gold (XAUT), With Seed Tag

Paolo Ardoino, the chief executive officer (CEO) at Tether, has taken to his X account to give an official comment on the upcoming listing of recently launched stablecoin XAUT by the world’s largest crypto exchange, Binance.

Binance to list XAUT, but there’s a catch

XAUT is a ticker for Tether Gold, and as is clear from the title, this stablecoin is backed with the world’s most precious metal and the oldest store of value and inflation hedge — gold. However, Binance will list it with a seed tag, meaning that this asset is new and could show high volatility.

XAUT will be paired with several major cryptocurrencies for trading. The new spot pairs are XAUT/USDT, XAUT/BTC, XAUT/U, XAUT/USDC and XAUT/TRY.

Ardoino expressed satisfaction and joy at this news, commenting on it with a “handshake” emoji.

According to the post by Binance, users can already start depositing XAUT to start trading later. Withdrawals will open on March 27 at 1:30 p.m. (UTC).

Tether hires Big Four firm for first full audit

As reported by U.Today earlier, the leading player on the stablecoin market, Tether, with a huge $184 billion market capitalization value and a global user base of more than 550 million, has engaged a “Big Four” accounting firm to conduct its first full independent financial statement audit.

It will be “the biggest ever inaugural audit in the history of financial markets,” Tether claims. The intention to conduct this audit underscores Tether’s dedication to show the financial and crypto worlds that its main product, USDT, is fully backed, highly liquid and has world-class risk management behind it.

Besides, Tether comments: “The audit engagement reflects the company’s longstanding dedication to global accessibility, financial empowerment, and the unrestricted movement of value across borders, contributing to a more stable society globally.”