Thread by @cache_gold

🧵 #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.

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).

6) #Tether abruptly changed the #TetherGold $XAUT smart contract without any explanation why.

tether.to/important-chan…

7) Unlike $PAXG (179,141.425 tokens, 15,531 address) it seems like nobody uses $XAUT.

$XAUT has 70% the circuiting supply of $PAXG but only %2 the number of holders and #Tether themselves hold over 70% of the supply.

$XAUT 61 addresses > 1 oz

$PAXG 3,816 addresses > 1 oz

8) #Tether has not provided any evidence that #TetherGold fully backed since June 30, 2021 (155 days ago) when they only provided an "Assurance Opinion". They have never been properly audited.

9) #Tether Gold's own "Gold Allocation Lookup" tool says they are not fully backed:

https://twitter.com/cache_gold/status/1462754861557202946?s=20

Is #Tether adding physical #gold or are they just minting tokens? Where's their proof?

Where is #Tether's equivalent of explorer.cache.gold?

Nothing has changed at #Tether since May 2020 - the gold backing data doesn't add up and it never did!

cryptoresearch.report/crypto-researc…

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