Tether’s Paolo Ardoino Addresses Challenges at Cantor Fitzgerald Conference
Paolo Ardoino, CTO of Tether, spoke at the Cantor Fitzgerald Global Technology Conference in New York, highlighting the company's focus on financial freedom and its global operations.
- Ardoino noted his first visit to the U.S. and addressed previous scrutiny from authorities like the DOJ and CFTC.
- Tether settled charges with the CFTC and NYDFS in 2021 and is under ongoing investigations.
- Despite challenges, Ardoino emphasized Tether's success, reporting a $13 billion profit in 2024 and over 60% market share for its stablecoin, USDT.
- The U.S. is moving toward regulating the $200 billion stablecoin market, with Tether leading at $143 billion in USDT supply.
- Tether holds nearly $100 billion in U.S. Treasuries, ranking it among the top 20 U.S. debt holders.
- Commerce Secretary Howard Lutnick supports Tether, noting Cantor Fitzgerald's investment ties.
- Tether invested $775 million in video platform Rumble, enabling crypto payments through USDT and other tokens.