Jie Wo Rui's 40x leverage exploded! How can Tether's Gold Mode earn 23.3 billion?

Shenzhen Jiewo Rui exploded, 20% liquidation or 40% installment. The issue is the 40x leverage betting: a deposit of tens of yuan locks in the gold price of 1 gram; if the gold price rises, the platform loses money. Tether holds 140 tons of gold (23.3 billion USD), and XAUT maintains strict 1:1 reserve without betting. XAUT’s market cap is 2.2 billion USD, accounting for 50% of the market; when gold prices rise, it gains 5 billion USD in appreciation, buying 1-2 tons weekly.

XAUT-4.84%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)