Finance
What to know:
- Nasdaq-listed Prestige Wealth is wobbling its whiskery way toward becoming a treasure-hunting treasury company, chasing Tether’s gold-backed token like a curious fox after a buttery coin. 🦊💰
- The plucky firm scooped up $150 million in a private placement and a debt knapsack anchored by Antalpha, a bitcoin-mining financier with more spark than a dragon’s sneeze. 🐉💥
- CEO Björn Schmidtke aims to make tokenised gold a proper grown-up alternative to fiat, with a twinkle of goblin gold in every balance sheet. ✨🪙
Prestige Wealth (PWM) says it has clambered closed a $150 million financing round to launch a digital-asset treasury focused on the glittering, gold-backed tokens of Tether-the shiny dragons in the ledger. 🪙🗃️
The funding includes a $100 million private placement led by Antalpha (ANTA), a bold bitcoin-mining financier’s sparkly wand, and $50 million in senior debt, according to a Friday flurry of announcements. 🪙🪄
Backers also include Tether and Kiara Capital. 🐭
Most of that treasure will be spent on gathering tokenised gold reserves, aiming to build a publicly verifiable, blockchain-native treasury that would make even Mr. Willy Wonka grin. The company will rebrand to Aurelion as soon as approvals frolic in, and will start trading under the AURE ticker on Monday. 🏛️🎢
The stock jumped 35% in the pre-market, then hiccuped and gave back a fair chunk in the opening moments-because markets love a good suspense-pinch. The news followed Bloomberg’s whisper that Antalpha and Tether were planning a tokenised gold treasury venture. 🗞️🤫
Tether Gold is a stablecoin tethered to real gold, redeemable and traceable on-chain. Aurelion says it will hold reserves in a transparent, auditable confetti of numbers, offering a jolly alternative to the old cash-in-the-dairy-fair reserves like plain cash or fiat stablecoins. 🪙🎟️
New Aurelion CEO Björn Schmidtke, co-founder of the Paraguayan bitcoin miner Penguin Group, says the move is part of a grand shift toward digital assets backed by real-world value, with a wink and a whistle. 🐧✨
“In a world where money moves on rails of digital mumbo-jumbo and storms of volatility blow the teacups, having a foundation of real value in tokenised gold gives people and institutions a pinch of certainty,” he said in the statement. 🍵🔒
“Some folks describe BTC as digital gold. I see Tether Gold, a redeemable stablecoin backed by gold, as the real digital glitter.” 💎🪙
The firm plans to generate a modest yield by lending unencumbered gold holdings through Antalpha, while keeping a portion locked as collateral. 💼🔒
The company’s board and leadership have been reshaped following the transaction, with Antalpha gaining two board seats and forming a strategic advisory committee including Gemini’s Rohan Chauhan. 🪑🤝
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2025-10-10 18:16