Report: Political turmoil fueling growth in tokenized gold

Rising gold prices and political turmoil have fueled the rapid growth of tokenized gold protocols, DL News reported. According to data from DefiLlama, the market capitalization of Tether Gold (XAUT) has surged 62% this year to $3.7 billion, while that of Pax Gold (PAXG) has grown 48% to $2.4 billion. Citing industry experts, the outlet noted that political turmoil, including U.S. tariff measures and the possibility of an invasion of Iran, has driven this trend. In contrast, the report added, Bitcoin has surrendered all gains made since the 2024 re-election of U.S. President Donald Trump.