Latest news with #XAUT
Cision Canada
2 days ago
- Business
- Cision Canada
Bybit Earnival Unlocks 4 Weeks of Golden Rewards
DUBAI, UAE, May 30, 2025 /CNW/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is excited to raise the stakes for Bybit Earn users in a four-week long rewards program, the Bybit Earnival. From now to June 22, eligible Bybit users may sign up for the event for a chance to earn up to 555% APR and Gold Tokens. With paradigm shifts taking place in the global investment landscape, Bybit Earn offers a wide range of yield-bearing products catered to the diverse needs of traders. The offerings unlock access to beginner products with guaranteed returns such as flexible staking, advanced savings products at various risk levels, and tokenized real-world assets including XAUT, a digital token backed by physical solid gold. For four weeks in a row, Bybit users may check into Bybit Earn for a rewarding experience packed with exclusive perks: New User Exclusives: Users new to Bybit Earn can enjoy a boost for Fixed Savings products of up to 555% APR on USDT. The offer applies in the first two days after their initial deposit and staking of 100 to 300 USDT. Extra APR Savings Products Every Week: Limited-time savings products with highly competitive APRs, starting at 500 USDT in net deposit, are refreshed daily at 6 AM UTC, with new offers launching every Monday at midnight. Weekly Leaderboard Prize: Participants who acquire 3,000 USDT or more weekly in eligible Earn products can compete on the weekly leaderboard to win up to 1,000 USDT in Gold Tokens. Rankings update daily, and rewards are distributed within 7–14 days. The event is open to verified retail customers with Savings service enabled on Bybit to ensure a fair and even level competition. Bybit Earn is a popular tool for Bybit users to maximize the earning potential of their idle crypto assets on the trading platform. With a focus on consistent yield and regular promotions for higher APR, Bybit Earn is trusted by millions of users on Bybit, the one-stop solution for all their crypto needs. Terms and conditions apply. For details and eligibility, users may visit Bybit Earnival. #Bybit / #TheCryptoArk About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at
Yahoo
29-04-2025
- Business
- Yahoo
Tether's $770M XAUT Backed by 7.7 Tons of Gold in Swiss Vault, Says Company
Tether's gold-backed stablecoin, Tether Gold (XAUT), reached a $770 million market capitalization as of April 28, according to the company's first attestation under El Salvador's financial regulations. "While central banks are stacking up hundreds of tons of gold, XAUt is set to become the standard tokenized gold product for the people and institutions," Tether CEO Paolo Ardoino posted on X. The token is backed 1:1 by 246,523.33 ounces — over 7.7 tons — of physical gold stored in a dedicated Swiss vault, said Tether. Each XAUT token represents one troy ounce of LBMA-certified gold. Tether said it applies strict controls, including gold bar verification and periodic audits, to maintain trust in the token's backing. The attestation comes at a time when global investors are increasingly turning to gold as a hedge against economic instability and rising geopolitical risks. Central banks, particularly across BRICS nations, have been buying gold at record levels, accumulating over 1,044 metric tons in 2024 alone, according to the World Gold Council. The yellow metal has touched numerous record highs in 2025 amid an ongoing rally that's seen its price gain about 27% year-to-date. It's currently trading at $3,343 per ounce, having more than doubled since November 2022. Tether emphasized that unlike other tokenized gold products, XAUT is physically backed and regulated, positioning it as a safer option for users wary of "paper gold" exposure. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
12-04-2025
- Business
- Yahoo
Tokenized Gold Surges Above $2B Market Cap as Tariff Fears Spark Safe Haven Trade
As gold prices blazed to new records, their digital counterparts are also on a tear, growing faster than most other crypto sectors. As risk assets including cryptocurrencies struggled on Thursday amid tariff uncertainties, tokenized gold once again emerged as an outperformer in the carnage. The market capitalization of gold-backed tokens swelled above $2 billion to a new record on Friday, up 5.5% over the past 24 hours, according to CoinGecko data. The rise coincided with the yellow metal rallying to a fresh all-time high of $3,240/oz, TradingView shows. Alongside the price rally, gold tokens experienced a frenzy of activity and demand over the past weeks, fueled by the broader market turmoil. Weekly tokenized gold trading volume surpassed $1 billion, the highest since the U.S. banking turmoil of March 2023, according to a report by digital asset platform The two largest tokens, Paxos Gold (PAXG), Tether Gold (XAUT), making up the bulk of the tokenized gold market, saw their weekly trading volumes surging over 900% and 300%, respectively, since January 20, according to the report citing CoinGecko data. PAXG also experienced continuous inflows totalling $63 million during this period, DefiLlama data shows. The rally tracks the broader gains in physical gold, which posted double-digit increases in 2025 amid geopolitical uncertainty and inflation concerns. However, even gold wasn't spared during the market-wide sell-off triggered by U.S. tariffs, with prices briefly dropping 6% before quickly recovering to record highs. Since Trump's inauguration, tokenized gold has been one of crypto's top performing sectors, with its market cap up 21%, the report noted. By contrast, stablecoins gained a more modest 8% in market cap, while bitcoin declined 19% and the total crypto market lost 26%. 'Tokenized gold is emerging as one of the key diversification strategies among crypto-native users, alongside bitcoin," wrote Alexandr Kerya, VP of product management at "It provides a safer and more stable approach to portfolio management, enabling users to stay within the crypto ecosystem while benefiting from the value and stability of the underlying physical asset.' "At the same time, the broader RWA narrative helps make gold exposure more accessible and intuitive for users who may not have considered it before," Kerya added. UPDATE (April 11, 15:54 UTC): Updated gold price and tokenized gold market capitalization. Updates 1st graf. Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
12-04-2025
- Business
- Yahoo
Tokenized Gold Nears $2B Market Cap as Tariff Fears Spark Safe Haven Trade
As risk assets including cryptocurrencies struggled on Thursday amid tariff uncertainties, tokenized gold once again emerged as an outperformer in the carnage. The market capitalization of gold-backed tokens swelled to just under $2 billion on Wednesday, up 5.7% over the past 24 hours, according to CoinGecko data. The rise coincided with the yellow metal briefly touching a fresh all-time above $3,170/oz, TradingView shows. Alongside the price rally, gold tokens experienced a frenzy of activity and demand over the past weeks, fueled by the broader market turmoil. Weekly tokenized gold trading volume surpassed $1 billion, the highest since the U.S. banking turmoil of March 2023, according to a report by digital asset platform The two largest tokens, Paxos Gold (PAXG), Tether Gold (XAUT), making up the bulk of the tokenized gold market, saw their weekly trading volumes surging over 900% and 300%, respectively, since January 20, according to the report citing CoinGecko data. PAXG also experienced continuous inflows totalling $63 million during this period, DefiLlama data shows. The rally tracks the broader gains in physical gold, which posted double-digit increases in 2025 amid geopolitical uncertainty and inflation concerns. However, even gold wasn't spared during the market-wide sell-off triggered by U.S. tariffs, with prices briefly dropping 6% before quickly recovering to record highs. Since Trump's inauguration, tokenized gold has been one of crypto's top performing sectors, with its market cap up 21%, the report noted. By contrast, stablecoins gained a more modest 8% in market cap, while bitcoin declined 19% and the total crypto market lost 26%. 'Tokenized gold is emerging as one of the key diversification strategies among crypto-native users, alongside bitcoin," wrote Alexandr Kerya, VP of product management at "It provides a safer and more stable approach to portfolio management, enabling users to stay within the crypto ecosystem while benefiting from the value and stability of the underlying physical asset.' "At the same time, the broader RWA narrative helps make gold exposure more accessible and intuitive for users who may not have considered it before," Kerya added. Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
11-04-2025
- Business
- Yahoo
Gold Rally Makes Tether's XAUT Top-Performing Digital Asset as Crypto Markets Remain Flat
Tokenized gold, such as Tether's XAUT and Paxos' PAXG continued to be a favorite of crypto investors in Asia as investors seek a safe haven despite a de-escalation in trade war tensions. On-chain data shows that Tether's XAUT was a top-10 market performer out of all digital assets. Tether's tokenized gold, the largest by market cap, is up 3.4% in the last 24 hours. CoinGecko data shows the sector is up 4.3% in the last 24 hours, compared to the CoinDesk 20, an index of the performance of the largest digital assets, which is down 2%. The price of gold initially moved down during the early hours of the Asia trading day, after breaching an all-time high during the end of U.S. hours. It's currently trading for $3218 in Hong Kong. Equity markets in Asia showed mixed performance in the morning session, with Hong Kong's Hang Seng down 0.2%, Shanghai's SSE up 0.12%, Taipei's TAIEX up 1.6%, and Tokyo's Nikkei 225 down 3.5%. Gold typically rallies during periods of heightened economic or geopolitical uncertainty, as investors seek safety in assets seen as stores of value amid volatility. While trade tensions have calmed, investors are concerned about the lack of predictability in policy from the White House. Gold also benefits from an inverse relationship with interest rates: lower rates reduce the opportunity cost of holding non-yielding gold, making it more attractive. Investors are also concerned about the surging U.S. budget deficit. China state media is also reporting that stimulus measures are in the works for the country, with interest rate cuts and government spending to the tune of $136 billion proposed. Other market leaders include Curve DAO's CRV, up 18% on-day after news that the U.S. plans to significantly relax rules and enforcement pertaining to Decentralized Finance (DeFi). Sign in to access your portfolio
