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🧵 #TetherGold $XAUT #audit update 2-12-2021:
1) Since November 22, 2021 #Tether Gold has added an additional 20,125.341 supposedly equivalent to 20,125.341 troy ounces of #gold worth currently worth ~$35,621,850.
1) Since November 22, 2021 #Tether Gold has added an additional 20,125.341 supposedly equivalent to 20,125.341 troy ounces of #gold worth currently worth ~$35,621,850.
2) 125,674.437 $XAUT purportedly backed by 125,674.437 troy ounces of #gold currently worth ~$222,456,320 are held by only 351 addresses.
3) The top address holds 74.4% of the total supply. Top 5 = 93.60%, top 10 = 99.15%, top 20 = 99.72%
4) The number 2 address is Bitfinex, #Tether's own exchange with 11.45%.
5) Only 61 addresses hold more than 1 ounce of gold (~$1,770).
4) The number 2 address is Bitfinex, #Tether's own exchange with 11.45%.
5) Only 61 addresses hold more than 1 ounce of gold (~$1,770).
Another 🧵on #Tether Gold
Let's try to #audit #TetherGold $XAUT with the little information they do provide and let's "trust them" 😉
The top 10 addresses have %98.9 (104,386) of the total supply (105,549) so it's quick and easy to cover the vast majority of the supply....
Let's try to #audit #TetherGold $XAUT with the little information they do provide and let's "trust them" 😉
The top 10 addresses have %98.9 (104,386) of the total supply (105,549) so it's quick and easy to cover the vast majority of the supply....
Spoiler alert: According #TetherGold's own "Gold Allocation Lookup" tool, the top 10 addresses holding almost 99% of the total supply of $XAUT are not fully backed... 😲
Are you surprised?
Are you surprised?
A 🧵 on #TetherGold $XAUT
#Tether Gold has now issued nearly $200 million (105,549.096) tokens they claim are fully backed by #gold. These $200 million worth of tokens are held by only 345 addresses.
Only 60 addresses hold more than 1 ounce of gold (~$1850).
#Tether Gold has now issued nearly $200 million (105,549.096) tokens they claim are fully backed by #gold. These $200 million worth of tokens are held by only 345 addresses.
Only 60 addresses hold more than 1 ounce of gold (~$1850).
The top five #TetherGold $XAUT addresses hold 94.88% of the total supply.
The top ten addresses hold 98.90% of the total supply.
The top twenty addresses hold 99.97% of the total supply. #Tether
The top ten addresses hold 98.90% of the total supply.
The top twenty addresses hold 99.97% of the total supply. #Tether
#TetherGold $XAUT has had only 381 on chain transfers in its entire history. 😲
#Tether has not been audited and provides no meaningful details about their claimed #gold backing and it's been 145 days since their latest "assurance report".
cryptoresearch.report/crypto-researc…
#Tether has not been audited and provides no meaningful details about their claimed #gold backing and it's been 145 days since their latest "assurance report".
cryptoresearch.report/crypto-researc…
