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- Tether CEO, Paolo Ardoino, denies claims made by Ripple CEO that Tether (USDT) is being targeted by the US.
- Ardoino defends the role of USDT as a stablecoin for the unbanked and emphasizes its security measures.
- The CEO also accuses the media of bias and outlines Tether’s cooperation with law enforcement.
Tether CEO Paolo Ardoino refutes Ripple CEO’s claims of US targeting, defends USDT’s role as a stablecoin for the unbanked, and accuses media of bias.
Tether CEO Responds to Ripple CEO: Spreading Uninformed FUD!
Ripple CEO Brad Garlinghouse recently claimed that the US government is targeting Tether. Despite recognizing USDT as a significant player in the crypto scene, he expressed doubts about its future impact due to the implied investigation. Tether CEO Paolo Ardoino responded to these critical comments, labeling Garlinghouse as an “uninformed CEO” of a company dealing with its own legal issues with the US SEC.
USDT Performs Vital Functions for Many Unbanked Communities!
Ardoino defended USDT against skepticism, highlighting its role as the most widely used stablecoin globally, especially in emerging markets and developing countries. According to him, USDT serves as a de facto check and savings account for many unbanked communities. Ardoino also emphasized Tether’s commitment to promoting a secure global financial system accessible to everyone and outlined the vital features for stablecoin adoption, which he claims USDT consistently demonstrates.
Tether CEO: We Comply with Legal Obligations!
Ardoino claimed that despite efforts to convey these points through interviews, mainstream media is reluctant to report such positive aspects. He suggested that the media’s preference for sensationalism against stablecoins and cryptocurrencies could be an attempt to protect the interests of the established finance sector. The CEO also stressed the company’s respect and compliance with OFAC/SDN lists, stating that Tether has cooperated with law enforcement agencies from over 40 countries and blocked more than $1.3 billion related to illegal activities.
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Conclusion
In conclusion, Tether CEO Paolo Ardoino has strongly defended the role and security of USDT against claims made by Ripple CEO Brad Garlinghouse. Ardoino emphasized Tether’s commitment to promoting a secure global financial system, its compliance with legal obligations, and its cooperation with law enforcement agencies worldwide. Despite the ongoing controversy, Tether continues to play a significant role in the global crypto market.
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