| Key Points: – Paolo Ardoino, on his first U.S. visit, reaffirmed Tether’s transparency and its significance in maintaining the dollar’s dominance. – Tether USDT stablecoin remains crucial in emerging markets, but Ardoino warned of global threats like the BRICS gold-backed currency |
Paolo Ardoino made his first-ever visit to the United States, addressing key concerns about the Tether USDT stablecoin and its role in the global financial system.
Speaking at Cantor Fitzgerald’s Global Technology Conference in New York, the Tether CEO defended the company’ss transparency and significance in maintaining the U.S. dollar’s dominance amid rising competition from international financial initiatives.
CEO Paolo Ardoino Defends Tether USDT Stablecoin Amid Regulatory Scrutiny
Ardoino’s visit coincided with Washington’s ongoing efforts to regulate the cryptocurrency industry. The Senate Banking Committee is preparing to vote on a bipartisan proposal to oversee stablecoins, while House Republicans push for their own legislative framework.
Meanwhile, President Donald Trump, a vocal supporter of the crypto industry, recently held a digital-asset summit, signaling potential regulatory shifts in favor of cryptocurrencies.
Tether, headquartered in El Salvador, operates the world’s most-traded cryptocurrency, USDT, which is pegged to the U.S. dollar. The stablecoin facilitates transactions across the crypto ecosystem by providing a dollar-based alternative for digital exchanges.
While Tether USDT has faced longstanding scrutiny over its reserves and potential use in illicit activities, the company has consistently denied these allegations. Ardoino addressed these concerns, stating that Tether’s reserve holdings—valued at approximately $143 billion—are primarily composed of cash and cash-equivalent assets, now managed by Cantor Fitzgerald.
Global Influence and Emerging Challenges
During his speech, Ardoino emphasized Tether’s critical role in global finance, highlighting that the company holds $113 billion in U.S. Treasuries, making it the 19th largest holder of American debt—ranking ahead of several countries.
Ardoino also noted that Tether USDT stablecoin remains a key financial tool in emerging markets, where it provides access to the U.S. dollar in regions with limited banking services.
Looking ahead, Ardoino reaffirmed Tether’s commitment to transparency and its position as an ally of the U.S. financial system. He warned of emerging global challenges, particularly the BRICS coalition’s proposed gold-backed currency, which could rival the dollar’s influence.
Despite the shifting regulatory landscape, Ardoino remains confident in Tether’s future, stating:
“We will help the US to prevent another antagonistic push from the other side.”
Tether’s profitability has surged alongside USDT’s widespread adoption, with the company reporting a $13 billion profit last year. Additionally, the company has recorded a 13% increase in users over the past quarter, reaching approximately 400 million users globally.
The financial success has enabled Tether to expand its investments into artificial intelligence, biotechnology, and agricultural infrastructure, as well as launch a lending business for commodities traders.
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