Compass Investments

Crypto vs. Dollar

📌 Paolo Ardoino.

Tether responds to Ripple: defends transparency and compliance . Tether

– Tether responds to Ripple: defends transparency and compliance

Tether CEO accuses Ripple CEO of spreading false information.

Ardoino emphasizes that Tether complies with all requirements and security measures.

Tether is still important for users in emerging markets.

Tether CEO Paolo Ardoino publicly challenged Ripple CEO Brad Garlinghouse after his comments about a possible SEC investigation into USDT.

This confrontation highlights the regulatory complexities faced by stablecoin issuers and the intense competition in the cryptocurrency sector.

Paolo Ardoyno responded to Garlinghouse’s comments on social media. He accused people of spreading “fear, uncertainty and doubt” (FUD), especially now that Ripple is preparing to enter the stackcoin market.

At this pivotal moment, Tether, the issuer of the world’s most used stack coin USDT, is entering the market. For many users in emerging markets and developing countries, USDT is an important financial resource that provides access to financial services that would otherwise be unavailable.

Amidst these allegations, Brad Garlinghouse expressed his concerns on the World Class podcast with Chris Vasquez. Emphasizing the important role of Tether, he talked about the serious consequences for the entire cryptocurrency market if the U.S. government takes action against Tether.

In response to the FUD allegations, Tether reiterated its commitment to compliance and transparency. The company adheres to regulatory standards and cooperates with law enforcement agencies around the world to block and report illegal transactions. These efforts ensure the security and stability of Tether’s operations; as Ardoyno highlighted, they have successfully blocked over $1.3 billion in fraud, hacking and money laundering.

He said: “The real facts show how Tether USDt manages compliance by leveraging the transparency of blockchain technology and collaborating with global law enforcement agencies.”

In addition, Tether has a highly skilled internal investigations team, which Ardoyno noted uses sophisticated tools to monitor transactions in both primary and secondary markets. Their work is enhanced through partnerships with analytics companies like Chainalysis, which provides sophisticated software to improve monitoring and compliance.

The controversy points not only to possible actions by the SEC, but also to the competitive dynamics of the cryptocurrency industry, where the launch of a new stablecoin by a company like Ripple could change market dynamics and attract the attention of regulators. As Ripple prepares to launch a stablecoin, the stakes are very high and Garlinghouse’s words and actions are under scrutiny.

Bitcoin

Bitcoin

$67,530.73

BTC -2.87%

Ethereum

Ethereum

$3,734.58

ETH -1.42%

Binance Coin

Binance Coin

$594.23

BNB -3.30%

XRP

XRP

$0.53

XRP -0.02%

Dogecoin

Dogecoin

$0.16

DOGE -1.08%

Cardano

Cardano

$0.46

ADA -4.48%

Solana

Solana

$167.74

SOL -5.59%