EddieJayonCrypto
2 May 25
Stablecoin issuer Tether (USDT) plans to launch a new US dollar-pegged digital asset by the end of the year as it seeks to return to the US market. CEO Paolo Ardoino confirmed the move and stated that Tether is rebranding to cooperate with law enforcement, countering its previous reputation linked t...
Tether plans to launch a new US dollar-pegged stablecoin by the end of the year as part of its strategy to re-enter the US market and enhance cooperation with law enforcement.
CEO Paolo Ardoino highlights the company’s improved collaboration with regulators and law enforcement agencies, playing a role in shaping stablecoin legislation such as the GENIUS Act.
To bolster trust after previous controversies regarding its reserves, Tether is increasing transparency by regularly publishing attestation statements and currently holds approximately $120 billion in US Treasuries.
Ardoino emphasizes Tether’s commitment to blocking criminal activity, asserting that their tools surpass those of the traditional financial system and that their extensive cooperation is unmatched.
The firm’s reserves include $7 billion in excess equity, marking a significant buffer that reflects its financial solidity.
Tether’s efforts focus on rebranding as a cooperative and transparent stablecoin issuer following a history of scrutiny tied to alleged misstatements about its reserves and associations with illicit use.
Managed through Cantor Fitzgerald, these reserves aim to assure investors and regulators alike, positioning Tether for a strong return to the US crypto market.