Stablecoin

2024

World

Tether USDt

Ripple’s CEO, Brad Garlinghouse, claims the U.S. government is targeting Tether, the leading global stablecoin issuer. Speaking on World Class, He mentioned how these regulations might affect the crypto world, but he’s still determining exactly how. 
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Responding in kind through social media, the CEO of Tether called Garlinghouse “Uniformed.”Ardoino suggested that Ripple’s critique might stem from their interests, as they’re gearing up to launch a stablecoin to rival Tether’s USDT. 
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 An uniformed CEO, leading a company being investigated by the SEC, launching a competitive stablecoin (cui prodest), is being reported spreading fear about USDt. Let me give you an update on Tether USDt ecosystem safety. USDt is the most used stablecoin in the world, with…— Paolo Ardoino 🍐 (@paoloardoino) <a href="https://twitter.com/paoloardoino/status/1789921257632207233?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 13, 2024</a>
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Faced with such concerns, Ardoino defended his company’s practices by pointing to Tether’s compliance measures, including those made in partnership with blockchain analytics firms, and its cooperation with global law enforcement bodies as proof of transparency and adherence to regulations. 
This exchange underscores the ongoing tension in the crypto industry, especially around the topic of stablecoin regulation. With Ripple set to introduce a new stablecoin, the competitive landscape could see significant shifts, offering more options to users and potentially reshaping the market dynamics. 
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 Also read: <a href="https://www.cryptotimes.io/2024/05/09/stablecoin-market-to-hit-3t-by-2028-ripple-at-forefront/">Stablecoin Market to Hit $3T by 2028, Ripple at Forefront</a>. 
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Tether CEO Rejects Ripple CEO’s Claim of US Targeting

The Crypto Times

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