Crypto Giants Clash: Ripple And Tether CEOs Now Debate Stablecoins’ Future
Key Points:
- Ripple CEO, Brad Garlinghouse, expresses concern over governmental scrutiny of Tether and announces Ripple’s plan to launch its own stablecoin.
- Tether CEO, Paolo Ardoino, defends his company by criticizing Garlinghouse’s remarks and highlighting Tether’s compliance efforts.
Ripple And Tether CEOs publicly disagree on stablecoins’ future. Amid U.S. scrutiny of Tether, Ripple plans to launch its own stablecoin. Tether emphasizes its commitment to block illicit transactions.
Tensions are rising in the crypto world as Ripple CEO, Brad Garlinghouse, and Tether CEO, Paolo Ardoino, engage in a public disagreement over the future of stablecoins.
Ripple and Tether CEOs’ Public Disagreement on Stablecoins
Garlinghouse reportedly voiced concerns over the U.S. Government’s scrutiny of Tether (USDT), warning of its potential impact on the crypto ecosystem.
Simultaneously, he announced Ripple’s plans to launch its own stablecoin, aiming to diversify the crypto landscape and bolster the XRPL ecosystem.
Ardoino responded sharply, criticizing Garlinghouse’s remarks as fear-mongering and pointing out that Ripple is itself under SEC investigation.
Readmore: Ripple CEO Warns Of A Legal Battle Between Tether And US Regulators
Ripple’s Announcement of New Stablecoin and Tether’s Response
An uniformed CEO, leading a company being investigated by the SEC, launching a competitive stablecoin (cui prodest), is being reported spreading fear about USDt.
Ardoino wrote
Particularly, Ardoino provided an extensive update on Tether’s safety measures. Tether, with hundreds of millions of users, especially in developing markets, is a crucial part of the financial ecosystem for many unbanked communities.
Tether’s Compliance Measures and Collaboration with Law Enforcement
Ardoino emphasized Tether’s commitment to global compliance, mentioning that it has worked with 124 law enforcement agencies across over 40 countries since its inception.
In terms of legality, Tether has blocked more than $1.3 billion in illicit transactions, with around $1.6 million related to terrorist finance.
In the last three years, Tether voluntarily collaborated in 339 requests from law enforcement to block wallets, with 158 being from U.S. law enforcement. Tether has also blocked over $639 million in collaboration with U.S. law enforcement.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
News
Crypto Giants Clash: Ripple And Tether CEOs Now Debate Stablecoins’ Future
Key Points:
- Ripple CEO, Brad Garlinghouse, expresses concern over governmental scrutiny of Tether and announces Ripple’s plan to launch its own stablecoin.
- Tether CEO, Paolo Ardoino, defends his company by criticizing Garlinghouse’s remarks and highlighting Tether’s compliance efforts.
Ripple And Tether CEOs publicly disagree on stablecoins’ future. Amid U.S. scrutiny of Tether, Ripple plans to launch its own stablecoin. Tether emphasizes its commitment to block illicit transactions.
Tensions are rising in the crypto world as Ripple CEO, Brad Garlinghouse, and Tether CEO, Paolo Ardoino, engage in a public disagreement over the future of stablecoins.
Ripple and Tether CEOs’ Public Disagreement on Stablecoins
Garlinghouse reportedly voiced concerns over the U.S. Government’s scrutiny of Tether (USDT), warning of its potential impact on the crypto ecosystem.
Simultaneously, he announced Ripple’s plans to launch its own stablecoin, aiming to diversify the crypto landscape and bolster the XRPL ecosystem.
Ardoino responded sharply, criticizing Garlinghouse’s remarks as fear-mongering and pointing out that Ripple is itself under SEC investigation.
Readmore: Ripple CEO Warns Of A Legal Battle Between Tether And US Regulators
Ripple’s Announcement of New Stablecoin and Tether’s Response
An uniformed CEO, leading a company being investigated by the SEC, launching a competitive stablecoin (cui prodest), is being reported spreading fear about USDt.
Ardoino wrote
Particularly, Ardoino provided an extensive update on Tether’s safety measures. Tether, with hundreds of millions of users, especially in developing markets, is a crucial part of the financial ecosystem for many unbanked communities.
Tether’s Compliance Measures and Collaboration with Law Enforcement
Ardoino emphasized Tether’s commitment to global compliance, mentioning that it has worked with 124 law enforcement agencies across over 40 countries since its inception.
In terms of legality, Tether has blocked more than $1.3 billion in illicit transactions, with around $1.6 million related to terrorist finance.
In the last three years, Tether voluntarily collaborated in 339 requests from law enforcement to block wallets, with 158 being from U.S. law enforcement. Tether has also blocked over $639 million in collaboration with U.S. law enforcement.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
Latest
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens
Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero
Press Release
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens
