Tether’s CEO, Paolo Ardoino, recently claimed that Tether (USDT) is the key to maintaining the US dollar’s global dominance.
USDT: A Global Reach
In a post on X (formerly Twitter), Ardoino highlighted USDT’s extensive reach, spanning from physical kiosks across Africa and South America to digital remittance platforms and institutional tools. He emphasized Tether’s on-the-ground efforts in developing nations, fostering trust and usage of USDT, ultimately benefiting the US economy. Ardoino boasted that over 400 million people hold USDT, with 35 million new wallets added each quarter. He specifically noted USDT’s strong performance in developing countries.
Facing Competition and Attacks
Ardoino acknowledged that Tether’s success has made it a target. He alleged that competitors, instead of focusing on product improvement, are primarily focused on “killing Tether,” a claim he says is supported by numerous sources within and outside the industry, even within the US administration. He framed any attacks on Tether as attacks on the US dollar itself.
Tether’s Financial Strength
Ardoino further stated that Tether is among the top 18 holders of US Treasuries, highlighting its significant financial position.
Disclaimer: This information is for general knowledge and does not constitute financial advice. Investing in cryptocurrencies involves significant risk. Always conduct thorough research before making any investment decisions.
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