Tether CEO Paolo Ardoino made a strong assertion on social media. He labeled USDT the greatest promoter of US dollar hegemony in the developing world. He claimed that Tether built the largest physical and virtual distribution network during the last decade.
These comprise South America and African kiosks, institutional payment instruments, and digital remittance channels. He added that the coverage of Tether extends beyond 400 million individuals and goes up 35 million extra wallets each quarter.
Tether holds $115B in US treasuries, strengthening the US economy.
Ardoino stated that Tether holds over $115 billion in US Treasuries, making it the 18th largest holder. He argued that Tether strengthens the US economy while providing financial access to underserved communities.
His contribution to USDT in developing countries enhances the US dollar and the economies of the countries. He asserted that he will keep expanding it further in a bid to enhance financial inclusion.
The CEO has been alleging that the competition has been attempting instead to produce better goods and services. He claimed that they wanted to “Kill Tether” and asserted that every business and political conference they arranged ended with this motive. They asserted that the attempts have been attested by the leaders of the industry and the individuals closer to the US administration.
Moreover, he argued that some competitors use legal strategies instead of improving their technology. He warned that such tactics endanger millions who rely on USDT for financial stability and accused these companies of prioritizing control over innovation.
Ardoino reiterated that they would not yield. He explained that they work every day in the developing world to foster trust and expand the use of USDT. He put the situation in the context of a battle for free finances against the greed of companies. Ardoino asserted that they would stand against the assault and keep going with the mission.
Tether’s economic influence and the future of digital assets
He cautioned that it would be injurious to the communities that relied on it if it were not allowed to expand. Ardoino asserted that the company would safeguard users who are overlooked by conventional finance. He blamed competition for undermining financial inclusion in the quest for market supremacy.
Ardoino’s comments echo the intensifying competition within the stablecoin space. Finely, Tether maintains a leading position, yet the competition seeks a larger say. The accusations spark speculation regarding the sector’s future and the direction of the regulations.
Tether’s position as a large US Treasury holder further emphasizes its economic power. Its power in the emerging world also increases. With the increase in competition, the argument about stablecoin regulations and influence in the market will be strengthened.
