Competitors Seek to Weaken USDT with Regulatory Pressure
Date: 2025-02-27 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Tether CEO Paolo Ardoino has stated that the company’s competitors are attempting to destabilize USDT using legal and regulatory tools.
According to him, instead of focusing on creating a competitive product and expanding the network of users, their main goal is to eliminate Tether from the market. “Every meeting they have, whether it’s a business meeting or a political discussion, invariably comes down to this task,” Ardoino noted on social media.
He emphasized that such statements may seem excessive, but multiple sources confirm that this is reality. “This information is reported by hundreds of people both inside and outside the crypto industry, including those who interact with representatives of the US administration,” the Tether CEO added.
USDT maintains its leading position among dollar-backed stablecoins, providing millions of people around the world with access to the US currency. According to Tether, USDT has already reached 400 million users, with 35 million more added every quarter.
Ardoino's statement comes amid discussions of new regulatory initiatives in the US regarding stablecoins. According to insiders, the upcoming rules could limit the ability of offshore issuers like Tether to use US Treasury bills, potentially complicating the functioning of USDT.
