Tether CEO Paolo Ardoino has reacted to the recent market cap milestone from the firm’s proprietary gold stablecoin Tether Gold (XAUt). For context, Tether Gold has seen substantial growth in recent months, recently surpassing the $1.5 billion market cap mark, as seen in a chart shared by the analytic and market research firm, Katusa Research. The surge, especially noticeable since August 2025, reflects increasing interest in stablecoins tied to precious metals. According to data from CoinGecko, XAUt is trading at $4,038, a 4.7% uptick in the past seven days and a 7.4% surge in the past two weeks. This is a reflection of gold’s performance. His reaction shows the growing excitement around the success of gold-backed stablecoins in the crypto space. The surge also coincided with a spike in gold’s spot price, which was at $4,038 during this press. Gold’s impressive push comes on the heels of the U.S. government shutdown, which is prompting investors to move to safe-haven assets. Notably, before the sharp surge in August, Tether Gold had been stuck at a market cap between $0.6 billion and $0.9 billion, although it kept growing steadily. This gradual increase highlighted consistent, albeit slow, adoption among investors seeking a stable asset backed by gold. Additionally, the company recently revealed that Tether Gold’s total minted supply is 375,572.25 ounces, with 281,961.71 ounces currently circulating in the market. Additionally, 93,610.54 ounces are still available for purchase. Institutions Accumulating Tether Gold? This news also comes only days after Tether and Antalpha, a financial firm with ties to Bitmain, announced raising $200 million for an entity focused on a Tether Gold treasury. The goal of this initiative is to use the capital to acquire and accumulate XAUt. Additionally, in September, Antalpha expanded its collaboration with Tether, adding new lending services backed by XAUt. If this latest initiative is successful, it would add to the market cap. Gold Tokens Are on the Rise Ultimately, XAUt is not the only gold token on the rise. Notably, the overall tokenized gold ecosystem surged by 1.4%, reaching a market capitalization of $3.09 billion. Additionally, PAX Gold (PAXG), hovering around $1.22 billion in market capitalization, took second place after Tether Gold, surging by 4.38% in the past seven days. Tether Gold Leads Tokenized Gold Market Another notable performer is Kinesis Gold (KGT), which is seeing gradual growth with a market cap of $186 million.