Tether CEO Announces New Synthetic Dollar Overcollateralized with Gold

According to CryptoPotato, Tether CEO Paolo Ardoino announced a new synthetic dollar, aUSDT, overcollateralized by XAUt, Tether's gold-backed digital asset, on May 17. 6. Later, industry analyst and stock-to-flow creator Willy Woo praised the coin. act like a 'genius business idea'. Tether's USDT is currently monetized on US Treasury Bills, but the company can now issue a stablecoin that monetizes gold profits. Over the long term, gold offers an 8% yield compared to T-Bills at 0% to 5%, providing greater profit potential.

Woo also speculated that Tether could issue a bUSDT stablecoin backed by Bitcoin, due to the company's growing BTC treasury. However, he noted that this would not make sense now given the bear market decline.#tether #tetherUsdt