4M
...
Paolo Ardoino, the CEO of Tether, has responded in recent days to claims by Ripple’s Brad Garlinghouse that the U.S. government is going after Tether. In a post on social media platform X, Ardoino called Garlinghouse an “uninformed CEO” whose own firm is under scrutiny by the SEC. Ripple is looking to launch its own stablecoin—criticized by the SEC as an “unregistered crypto asset.” He also noted a number of robust compliance measures in place with Tether and partners, like blockchain analytics firm Chainalysis, in its work with global law enforcement.
The dispute has shown competitive tension in the crypto industry around Tether’s USDT, leading a $110.8 billion market cap as reported by CoinGecko. This is where Ardoino’s defensive tweet on behalf of Tether shows that the company is on the safe side from an operational perspective. And it has a way to make sure everything is in compliance with regulations, which reinforces confidence in wider cryptocurrency markets facing their own regulatory challenges.
