Aurelion is a small Cayman Islands-incorporated holding company listed on Nasdaq that has shifted from wealth management into holding Tether Gold (XAUt), a blockchain-based token backed by physical gold. The company raised roughly $100M through a private placement and took on a $50M term loan, deploying $134M to purchase XAUt, which now dominates the balance sheet. Management's stated goal is to accumulate XAUt over time using capital markets activity, and plans to lend unencumbered XAUt to its controlling shareholder, Antalpha, as collateral in exchange for fees. Aurelion also runs two small AI-focused businesses: InnoSphere Tech, which scrapes financial data and deploys a wealth management-specific large language model, generating revenue through enterprise contracts with financial services firms; and Wealth AI, a Singapore-based platform offering AI-powered wealth planning to high-net-worth clients that has yet to generate revenue. The legacy Hong Kong wealth management business, which referred high-net-worth clients to insurance brokers for wealth product sales on a referral fee model, has effectively ceased operations. Antalpha and its affiliates hold significant voting control through a dual-class share structure, and management intends to direct the majority of available capital toward further XAUt purchases.