Tether CEO Paolo Ardoino has expressed interest in increasing the company’s presence in the United States. However, he emphasized a cautious approach due to ongoing regulatory uncertainties.
In an interview with Bloomberg TV on Jan. 16, Ardoino stated,
I cannot exclude Tether moving a bit more toward some US presence, but we are also doing that in a cautious way.
Ardoino underlined the need for clear regulatory frameworks before making substantial commitments to the U.S. market. He added:
For the moment, we need regulatory clarity and guidance. We need to see what the laws are looking like coming from the US, and then we will decide.
His comments come as expectations grow for significant regulatory changes under the new administration. President-elect Donald Trump is anticipated to prioritize cryptocurrency by declaring it a national priority through an executive order shortly after taking office on Jan. 20.
USDT stability and profits showcase Tether market leadership
Tether’s cautious yet strategic stance shows its readiness to adapt to evolving regulations while safeguarding its business interests. The company aims to balance its global growth with compliance, ensuring long-term sustainability. Ardoino’s comments suggest that while Tether explores opportunities in the U.S., it will proceed carefully to avoid potential regulatory pitfalls.
The financial standing of the company also reflects the strong competitiveness of the company in the industry. Third-quarter revenues for Tether were $2.5 billion, cumulative revenues for the period ending September 2024, stood at $7.7 billion. Liquidity is also supported by Tether’s U.S. Treasury holdings earning high returns since 2021 through a partnership with Cantor Fitzgerald.
Notably, Howard Lutnick, the CEO of Cantor Fitzgerald, who is known to have a good relationship with Donald Trump, will become the Secretary of Commerce in the Trump administration, or at least that is what the media speculates. This connection may affect Tether’s future plans in the United States.
Tether’s stablecoin, USDT, has been one of the stablecoins, trading at $0.9997 for the last 24 hours. The stablecoin had a trading volume of $133.27 billion in the last 24 hours, accounting for 97.11% of its market capitalization. This high liquidity is in agreement with the fact that Tether is a major player in the crypto market, especially as a medium of exchange.
