Tether CEO: Overcoming numerous challenges, continuing to dominate the global stablecoin market
ChainCatcher news, according to CoinDesk, Tether CEO Paolo Ardoino stated during his speech at the Cantor Fitzgerald Global Technology Conference in New York that Tether has "gone through hellish challenges" over the past few years but still maintains its market dominance and is expanding its business in multiple areas.During his first visit to the United States, Ardoino engaged in discussions with the Bitcoin Policy Institute and Strike CEO Jack Mallers, and took a photo on Capitol Hill in Washington, D.C. He admitted that Tether has long faced intense scrutiny from the U.S. Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), and the New York Department of Financial Services (NYDFS), and reached a settlement with the CFTC and NYDFS in 2021.Currently, Tether's USDT stablecoin holds over 60% of the market share, with a total market capitalization of $143 billion, far exceeding its U.S. competitor Circle ($58 billion USDC). In 2024, Tether is projected to earn $13 billion and continues to invest in areas such as AI, education, and the tokenization of real-world assets (RWA).Although Tether is headquartered in El Salvador, it has strong ties to the U.S., including holding nearly $100 billion in U.S. Treasury bonds, making it one of the top 20 holders of U.S. debt globally. Additionally, Tether collaborates with the FBI and the U.S. Secret Service to combat crypto crime and has invested $775 million in the right-wing social platform Rumble, planning to integrate USDT payment functionality.At the conference, Ardoino emphasized Tether's optimistic outlook for the future and reaffirmed the importance of stablecoins in maintaining the U.S. dollar's global dominance, aligning with the latest policy direction of the U.S. Treasury.