Tether is poised to grow in the United States as Paolo Ardoino showed optimism with allies in government.
By Godfrey Benjamin
Edited by Julia Sakovich
Updated
3 mins read
Tether USDT $1.00 24h volatility: 0.0% Market cap: $143.39 B Vol. 24h: $20.91 B appears set to conquer new markets as the horizon looks clear to embrace the stablecoin giant. Paolo Ardoino, Chief Executive Officer of Tether Holdings Limited, said in El Salvador while addressing crypto community members.
According to Ardoino in an interview with Bloomberg, the “establishment” was not fair to Tether in the past. He highlighted the unnecessary take from regulatory authorities on claims that criminals and terrorists used the USDT stablecoin to fund their activities.
The Tether CEO described these claims as just a way for the “establishment” to restrict Tether’s growth. However, Ardoino believes that a shift could occur with the pro-crypto appointees of US President Donald Trump.
He believes that these crypto advocates will see through the unfair targeting of Tether and lift restrictions on the activities of the stablecoin in the US
Despite the intense scrutiny of Tether’s activities, Ardoino maintains that it is ramping up its business operations. This involves strategic positioning in the crypto and global financial space.
Tether has invested in a firm where two key Trump administration appointees own shares. The appointees include Howard Lutnick, Commerce Secretary, and David Sacks, the Artificial Intelligence (AI) and Crypto Czar.
Ardoino also revealed that Tether plans to increase its efforts to make deals across the industry as its earnings continue to rise. Currently, the stablecoin giant has over $141 billion in market capitalization.
Analysts consider this move strategic as it could open bureaucratic doors for Tether and help lift some restrictions on its activities in the US.
As reported earlier by Coinspeaker, Tether is interested in the US market and is monitoring how crypto regulation under the Trump administration would evolve. The world’s leading stablecoin issuer has increased its lobbying efforts in the region and looks set to return to the US market fully.
Tether faced regulatory hurdles in Europe following the European Union’s rollout of its Markets in Crypto Assets (MiCA) regulation. The MiCA regulation, which came into full effect at the end of December 2024, resulted in the delisting of USDT from several platforms.
The action means Tether’s market share in the region was hugely impacted. A spokesman for Tether Holdings expressed disappointment at the MiCA laws. He emphasized that the regulation posed a significant risk for EU customers.
Despite the many challenges, market watchers argue that Tether remains a leader in the stablecoin industry and is also setting the pace. This likely refers to the recent integration of USDT with the Bitcoin network in El Salvador.
The move has been lauded as strategic as it will have a massive impact on Bitcoin’s Web3 ecosystem and Tether’s revenue stream. This is in addition to boosting El Salvador’s implementation of BTC BTC $82 058 24h volatility: 1.6% Market cap: $1.63 T Vol. 24h: $24.03 B as a legal tender.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
