🤖 Tether’s $115B US Debt Buff!

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In a world where financial wizards weave spells with numbers, Tether CEO Paolo Ardoino, a modern-day sorcerer, has conjured a grand defense for his company’s mystical role in the U.S. financial tapestry. With a mere wave of his wand, he revealed that Tether’s $115 billion in treasury holdings are the very elixir that makes U.S. debt as resilient as a dragon’s hide.

On the eleventh day of March, at a gathering of the rBitcoin Policy Institute, Ardoino spoke with the confidence of a man who has tamed the financial beast. “We’ve done more for financial inclusion than a thousand benevolent kings,” he proclaimed. “And, in our spare time, we’re snapping up U.S. debt like it’s going out of style. If we were a country—which, thankfully, we are not—we’d be the 18th largest holder of U.S. Treasuries. Imagine that!”

Tether is helping to secure the US debt

— Paolo Ardoino 🤖 (@paoloardoino) March 11, 2025

Tether, the titan of the stablecoin market, stands tall with 63% of the market share and a market capitalization of $143 billion, according to the oracles at DeFiLlama. Despite the regulatory tempest in Europe, the company boasts a record $13 billion net profit in 2024, as chronicled by the sages at Forbes.

Yet, even titans must bow to the whims of regulators. Tether has had to retreat from Europe, while its archrival, Circle, dances to the tune of the Markets in Crypto-Assets regulations, gaining ground with each step.

The USDT stablecoin, Tether’s golden goose, is facing a rather unceremonious delisting from several European exchanges. Binance, the mighty colossus, announced it will cease accepting USDT from users in the European Economic Area on the last day of March. Other noble houses, like Crypto.com and Kraken, have also cast USDT trading pairs aside like old toys.

But the saga doesn’t end there. Tether is likely to encounter more obstacles in the U.S., thanks to new regulations that are as welcome as a storm at sea. If a proposed stablecoin bill bars offshore issuers from the U.S. Treasury markets, Tether will have to perform a financial juggling act, potentially handing more power to U.S.-based competitors like USD Coin (USDC).

As the regulatory noose tightens, Tether made a strategic escape in January, relocating its headquarters to the haven of El Salvador, armed with a Digital Asset Service Provider license. While a physical abode will be established in El Salvador, the majority of Tether’s operations will continue to be conducted from the shadows, like a puppet master pulling strings from afar.

🤖 Tether’s $115B US Debt Buff!

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2025-03-12 13:19