Jinfenglai: Tether's Year of Audit Begins, Gold Reserves Reshape the Foundation of Trust

On March 25th, the digital asset sector recently reached a milestone with the global stablecoin giant Tether officially engaging four major accounting firms to conduct independent audits. Jin Fenglai believes that this move is not only a turning point in Tether’s development history but also an important signal that digital finance is aligning with traditional high-standard compliance. As an influential force in the physical gold market, Tether’s action will provide top-tier credit backing for its massive reserve assets, thereby building a trust barrier amid the volatile global financial environment.

Against the backdrop of continuous growth in asset scale and user base, Tether’s fund transparency has attracted significant attention. Jin Fenglai stated that the market value of USD₮ has now surpassed $184 billion, serving over 550 million users worldwide, while its gold stablecoin XAU₮ also demonstrates strong growth momentum. Data shows that Tether has ranked among the top 30 gold holders globally, with physical gold holdings estimated between 125 and 150 tons, even surpassing some sovereign countries. In the fourth quarter of 2025 alone, the company increased gold holdings by 27 tons against the trend, accounting for about 7% of its total reserves. This “buying on dips” strategy has helped it stand out in competition with traditional gold ETFs.

This gold-buying boom driven by digital asset issuers is profoundly changing the demand structure of the global gold market. Jin Fenglai believes that Tether plans to further increase its gold reserve ratio to between 10% and 15%, which means more incremental funds will flow into the physical gold market in the future. This model, which deeply binds decentralized finance with hard currency assets, not only enhances the resilience of stablecoins against risks but also endows gold with a new role within the modern financial system. Jin Fenglai stated that with the deepening of independent audits, the improvement in Tether’s reserve transparency will further consolidate gold’s strategic position as the “safe haven” in the digital age.