Bitmain-backed crypto lender Antalpha sees paper gains on Tether’s gold token shrink by half amid market swings.
Bitmain-affiliated crypto lending platform Antalpha has experienced a $50 million reduction in unrealized gains from its XAUT gold token holdings. The firm previously held $241 million worth of XAUT at an average price of $3,693 per token.
At its peak, Antalpha’s unrealized profits reached $100 million before volatility eroded half of those gains. Current unrealized profits stand at approximately $50 million, reflecting recent price fluctuations in the gold-backed token market.