- Tether CEO Paolo Ardoino has criticized Ripple CEO Brad Garlinghouse for spreading fear, uncertainty, and doubt (FUD) about Tether’s largest stablecoin, USDT.
- Ardoino defended Tether’s commitment to regulatory compliance and its efforts to sustain a global financial ecosystem.
- Garlinghouse had expressed concerns about the US government’s scrutiny of Tether in a recent interview.
Tether CEO Paolo Ardoino defends the company’s largest stablecoin, USDT, against FUD spread by Ripple CEO Brad Garlinghouse, highlighting Tether’s commitment to regulatory compliance and global financial ecosystem sustainability.
Garlinghouse’s Concerns About USDT
In a recent interview with Chris Vasquez on the World Class YouTube channel, Ripple CEO Brad Garlinghouse expressed his concerns about the US government’s scrutiny of Tether. He suggested that the government was targeting Tether and expressed uncertainty about the potential impact of this scrutiny. While he did not label any potential enforcement action against Tether as a black swan event, he did suggest that such an event could occur soon. Garlinghouse’s comments have drawn a strong response from Tether CEO Paolo Ardoino.
Ardoino’s Response to Garlinghouse
Ardoino responded to Garlinghouse’s comments by labeling him as “an uninformed CEO” leading a company currently under investigation by the US Securities and Exchange Commission. He also questioned Ripple’s plans to launch a stablecoin in the coming months. Ardoino defended Tether’s commitment to regulatory compliance and highlighted the company’s efforts to sustain a global financial ecosystem.
Tether’s Commitment to Compliance
Ardoino also provided an update on Tether’s compliance efforts. He highlighted the company’s adherence to sanction lists provided by the US Office of Foreign Assets Control and its collaboration with law enforcement agencies in over 40 countries. This collaboration has allowed Tether to block over $1.3 billion in crypto and approximately 339 wallets linked to illicit financial activities. Ardoino expressed disappointment with mainstream crypto media for spreading negative narratives about Tether, despite his efforts to provide information about the company’s contributions to the crypto space.
Conclusion
In conclusion, the recent exchange between Tether CEO Paolo Ardoino and Ripple CEO Brad Garlinghouse highlights the ongoing debate about regulatory compliance in the crypto space. Ardoino’s defense of Tether’s commitment to compliance and his criticism of Garlinghouse’s comments underscore the importance of this issue for the future of the crypto industry.
