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- Tether CEO, Paolo Ardoino, responds to claims made by Ripple CEO, Brad Garlinghouse, about a USDT investigation.
- Garlinghouse had previously stated that the US is conducting an investigation into USDT, a rival stablecoin to Ripple’s own offering.
- Ardoino defends Tether, stating it is the “most widely used stablecoin in the world” and that they have cooperated with law enforcement in over 40 countries.
Tether CEO Paolo Ardoino hits back at Ripple’s Brad Garlinghouse over claims of a USDT investigation, defending Tether as the world’s most widely used stablecoin.
Ripple CEO Claims USDT Investigation
In a statement last week, Ripple CEO Brad Garlinghouse claimed that the US is conducting an investigation into USDT, a stablecoin that is a direct competitor to Ripple’s own offering. Ripple is reportedly preparing to launch its own stablecoin, which would directly compete with USDT, the industry’s largest stablecoin.
Tether CEO Defends USDT
In response to Garlinghouse’s claims, Tether CEO Paolo Ardoino defended USDT, stating it is the “most widely used stablecoin in the world”. He also highlighted Tether’s cooperation with law enforcement agencies in over 40 countries. Ardoino also revealed that since its inception, Tether has blocked assets worth over $1.3 billion in connection with fraudulent activities and hacking incidents. Of this, approximately $1.6 million is linked to financing terrorism.
Conclusion
The ongoing rivalry between Ripple and Tether continues to heat up, with both CEOs publicly defending their respective stablecoins. As the crypto industry continues to grow and evolve, the competition between stablecoins is expected to intensify. However, it remains to be seen how these allegations and investigations will impact the future of USDT and Ripple’s upcoming stablecoin.
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