Ripple Labs CEO Brad Garlinghouse believes the US government may target Tether, the largest stablecoin by market capitalization. In a recent interview, he suggested that Tether could be the next “black swan event” for the crypto industry.
Tether CEO Responds
Tether CEO Paolo Ardoino dismissed Garlinghouse’s comments, calling him “uninformed” and accusing him of spreading fear. Ardoino emphasized Tether’s commitment to stability, liquidity, and compliance.
Tether’s Recent Cooperation
Ardoino highlighted Tether’s recent collaboration with the FBI and US Department of Justice to seize $1.4 million in USDT from a scam network. He criticized mainstream media for focusing on sensationalistic narratives against stablecoins and cryptocurrencies.
Ripple’s Stablecoin Plans
Garlinghouse’s comments come after Ripple announced plans to launch its own USD-pegged stablecoin. Ardoino questioned the motives behind this move, suggesting it may be an attempt to compete with Tether.
