CZ said in a post on social media that it was saying the obvious. Most people "in the crypto circle" understand this, but most people "not in the crypto circle" may not realize it yet.
Tokenizing gold is not "gold on the chain." It's simply tokenizing the fact that you trust some third party to give you gold at some point in the future - even when their management has changed, maybe decades later, or even in times of war. It's actually a "trust my brother" type of token. That's why no "gold coin" has really caught on.
Cryptocurrency critic Peter Schiff previously revealed that he was launching a gold tokenization product. "You can buy gold through an app on your phone and it will be stored in a vault. You can then easily transfer ownership of the gold to someone you know or exchange it for physical gold."
CZ: Tokenizing gold is not the same as "gold on the chain."
2025-10-23 07:12:41
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