World

when

Read

<div class="protos">
 <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> chief exec <a rel="noopener noreferrer nofollow" title="Brad Garlinghouse" href="https://thebittimes.com/tag/brad-garlinghouse.html">Brad Garlinghouse</a> recently expressed his view via the World Class podcast that the “US Government is going after <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a>” before emphasizing how important it is to the ecosystem.
 This comment received a response from <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a> CEO <a rel="noopener noreferrer nofollow" title="Paolo Ardoino" href="https://thebittimes.com/tag/paolo-ardoino.html">Paolo Ardoino</a> on X (formerly Twitter), who attributed the comments from Garlinghouse to “An uniformed [sic] CEO, leading a company being investigated by the SEC, launching a competitive <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> (cui prodest).”&nbsp;
 Ripple announced last month that it intended to launch a US dollar-pegged stablecoin.
 In his lengthy tweet, Ardoino also emphasized that Tether has “proved over time to have… top-tier custodians and profound compliance.”
 <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"><iframe loading="lazy" title="CEO of Ripple on Crypto Predictions, Fighting the SEC &amp; Finding Happiness" width="500" height="281" src="https://www.youtube.com/embed/55q7PnOAIeI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
 </div>
 </figure>
 Read more: The rise and fall of Crypto Capital Corp, crypto’s premiere shadow bank
 For context re these ‘top-tier custodians,’ Tether once gave nearly a billion dollars of commingled client and corporate funds to an unlicensed money transmitter accused of money laundering for the cartels without even signing a contract.
 Additionally, when considering Tether’s profound compliance, it’s important to note that it has previously settled with the Commodity Futures Trading Commission (CFTC) over allegations that it failed to maintain advertised reserves, issued tethers against funds it hadn’t received, and used bank accounts of Tether associates to send and receive funds related to Tether.
 Ardoino additionally emphasized that Tether had “onboarded the FBI and USSS for reissuances” and has worked “with 124 law enforcement agencies” over “198 requests from law enforcement to block wallets.”&nbsp;
 He also drew further comparisons between his firm and other stablecoins, pointing out that Tether “cooperates directly with law enforcement agencies, while other stablecoins, although they claim to be ‘more compliant’ they require a judge order, allowing hackers, scammers, and criminals a long time to move funds around.”
 Ripple isn’t the only stablecoin issuer who has implied that Tether is among the targets of law enforcement. Indeed, Dante Disparte of Circle accused Tether of “counterfeiting the US dollar.”&nbsp;
 Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;Instagram,&nbsp;Bluesky, and&nbsp;Google News, or subscribe to our&nbsp;YouTube&nbsp;channel.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/paolo-ardoino-flexes-top-tier-custodians-in-tether-v-ripple-stablecoin-beef-tbt88208.html">https://thebittimes.com/paolo-ardoino-flexes-top-tier-custodians-in-tether-v-ripple-stablecoin-beef-tbt88208.html</a>

Paolo Ardoino flexes 'top-tier custodians' in Tether v. Ripple stablecoin beef

TheBitTimes

Other articles published on May 13, 2024

EigenLayer Launches Airdrop Token Claims, but it's Nontransferable

Growing Rivalry Sparks Tensions: Ripple CEO’s Comments Ignite Debate with Tether Amid Regulatory ...

KITTY token surges 8,000% amid GameStop investor’s Roaring Kitty comeback

🏅 Listing on MEXC tomorrow!

GameStop Stock And Wolverine Memecoins Explode As Roaring Kitty Returns To The Spotlight

Bitcoin Mining Stocks Marathon Digital, Riot Platforms And CleanSpark Are Moving Monday: What's G...

Join our free newsletter for daily crypto updates!