Tether has proven that the XAUT token is fully backed by physical gold, and XAUT's market capitalization has surpassed $2 billion.

Tether has released its third-quarter assurance report for its Tether Gold (XAUT) token, stating that each token is fully backed by physical gold bars stored in Switzerland. As of September 30th, Tether's gold reserves totaled 375,572 troy ounces, valued by the issuer at approximately $1.44 billion based on Tether's reference price at the end of the third quarter. The current number of XAUT tokens in circulation is 522,089, with an additional 139,751 tokens available for sale, indicating that additional reserves have been allocated but not yet distributed.