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CACHE.Gold Profile picture
@cache_gold
May 13, 2022 • 7 tweets • 7 min read • Read on X
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🧵Transparency and Proof of Reserve of #Gold Backed Tokens

CACHE Gold $CGT (current) - explorer.cache.gold + @chainlink Proof of Reserve data.chain.link/ethereum/mainn…

PAX Gold $PAXG (43 days outdated) - 5 page "Attestation report" to cover $600+ million - paxos.com/attestations/
Tether Gold $XAUT (133 days outdated) - 4 page "Attestation report" covering more than $80 billion in assets, just a few paragraphs are dedicated to $XAUT the 246,524.33 ($450+ million USD) ounces of #gold #Tether claims to hold

tether.to/en/transparenc…
. @kinesismoney (534 days outdated) - #Kinesis promised to deliver audits twice per year but has failed to provide any audits for 534 days and counting. They have not provided any explanation for the lack of audits other than "#COVID" has prevented it.

kinesis.money/audits/
CACHE Gold had no trouble scheduling and completing audits within 30 days in Dallas, Singapore and Zurich in Q4 2021. These audits proved the integrity of #GramChain real-time physical asset tracking.
Why are these other companies unable to provide timely audits or better a full list of bars backing their tokens including photographs, serial numbers, purity, refiner, gross weight and a fully history of the bars movements in and out of their systems?

Demand more.
Any thoughts @Bitfinexed, @CryptoCriticPod, @Frances_Coppola, @CryptoCriticPod, @BennettTomlin @CasPiancey, @FUDLetter, @davidgerard, @ahcastor?
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More from @cache_gold

CACHE.Gold Profile picture
Dec 24, 2021
@JimForsythe5 @KinesisMonetary @4SoundMoney If you have full public data on all the bars, you will be able to see if one bar has been mysteriously moved from one vault to another.

Our approach is to make all the data public, deposits, withdrawals, resumptions etc. Image
@JimForsythe5 @KinesisMonetary @4SoundMoney If this bar appeared in another vault in a later audit but was not withdrawn from the previous vault first and assigned a new RFID tag in the new vault, this fraud would be publicly exposed.

explorer.gramchain.net/r/E28011052000…
@JimForsythe5 @KinesisMonetary @4SoundMoney Furthermore, bars cannot be withdrawn from the vault unless they are first unlocked and they cannot be unlocked unless locked gold grams > than tokens - this is enforced by the smart contract.
Read 7 tweets
CACHE.Gold Profile picture
Dec 2, 2021
❓Question: What happens if we query #Tether's website (gold.tether.to) to ask how many of the 351 addresses that currently hold $XAUT are backed?

Answer: Only 12 of 351

Got #gold? Got proof?

#AuditTether

Detailed Data 2-12-2021 👉 drive.google.com/drive/folders/…
@CryptoCriticPod @BennettTomlin @CasPiancey @Frances_Coppola

Any thoughts?
#Tether's transparency report claims their physical gold is tracked to 1/1000th of a troy ounce (0.001 $XAUT).

#Tether Gold's whitepaper contradicts the transparency report and claims "six decimal places" (0.000001 $XAUT).

Tether is not meeting either standard of precision.
Read 4 tweets
CACHE.Gold Profile picture
Dec 2, 2021
🧵 #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).
Read 9 tweets
CACHE.Gold Profile picture
Nov 22, 2021
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.... Tether Gold
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?
Of the top 10 addresses #Tether's own data says only 3 addresses have the same amount of #gold allocated as tokens. 4 addresses have no gold allocated but hold 9,595.10 tokens. 2 addresses are under-allocated by 23,453.13 ounces. One address is over-allocated by 219.40 ounces. Image
Read 8 tweets
CACHE.Gold Profile picture
Nov 22, 2021
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).
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
#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…
Read 6 tweets
CACHE.Gold Profile picture
Nov 19, 2021
It took us exactly 10 days from the initial request to complete a full #audit of $CGT's physical #gold backing in #Singapore.

What is #KinesisMoney's excuse?

You can audit us too: explorer.cache.gold Image
It took us exactly 11 days from the initial request to complete a full #audit of $CGT's physical #gold backing in #Dallas.

What is #KinesisMoney's excuse? It's been 371 days!

You can audit us too: explorer.cache.gold Image
It took us exactly 25 days from the initial request to complete a full #audit of $CGT's physical #gold backing in #Zurich.

What is #KinesisMoney's excuse? It's been 390 days!

You can audit us too: explorer.cache.gold Image
Read 5 tweets

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