- Tether CEO, Paolo Ardoino, refutes Ripple CEO, Brad Garlinghouse’s claims of USDt being targeted by U.S. authorities.
- Ardoino defends USDt’s role as a stablecoin for the unbanked and highlights its security measures.
- The CEO accuses the media of bias and outlines Tether’s cooperation with law enforcement.
Tether CEO, Paolo Ardoino, fires back at Ripple CEO, Brad Garlinghouse’s claims of USDt being targeted by U.S. authorities, defending USDt’s role as a stablecoin for the unbanked and highlighting its security measures.
Ardoino Responds to Garlinghouse’s Claims
Brad Garlinghouse, CEO of Ripple, recently asserted that the U.S. government is targeting Tether. While he acknowledges USDt as a significant player in the crypto scene, he doubts its future impact due to the supposed investigation. In response, Ardoino referred to Garlinghouse as an “uninformed CEO” of a company currently dealing with its own legal issues with the U.S. SEC. He accused Garlinghouse of spreading fear, uncertainty, and doubt (FUD) about USDt, particularly as Ripple is preparing to launch its own stablecoin.
Defending USDt’s Role and Security
Ardoino defended USDt against skepticism by highlighting its role as the most utilized stablecoin globally, particularly in emerging markets and developing countries. According to him, USDt serves as a de facto checking and savings account for many unbanked communities. He also emphasized Tether’s commitment to fostering a secure global financial system that is accessible to all. He outlined vital attributes for stablecoin adoption: price stability, liquid reserves, reputable custodians, and strict compliance—all of which he asserts USDt consistently demonstrates.
Accusations of Media Bias
Ardoino claimed that despite his efforts to communicate these points through interviews, mainstream media has been reluctant to report on such positive aspects. He suggested that the media’s preference for sensationalism against stablecoin and cryptocurrencies might be an attempt to safeguard the interests of the established financial sector.
Conclusion
In conclusion, Tether’s CEO ardently defends USDt’s role and security in the face of criticism, highlighting its importance in emerging markets and its commitment to a secure global financial system. He also accuses the media of bias, suggesting a preference for sensationalism over reporting on the positive aspects of stablecoins and cryptocurrencies.
