In a rather blithe manner, the Tether overlord, Paolo Ardoino, has brushed aside the pedestrian fears of stablecoin scuffles.
Mr. Ardoino, the maestro of Tether (USDT), has nonchalantly waved off the mere suggestion of competition in the stablecoin arena, trumpeting Tether’s ten-year tenure and its sprawling network of influence.
As Tether confronts the regulatory quagmire in Europe, thanks to the European Union’s Markets in Crypto-Assets’ whims, the likes of Crypto.com and Kraken have begun a polite exodus of USDT from their exchanges.
And while Tether’s market value has taken a gentle dip to a two-year nadir, the concern over its future seems to be lost on the unflappable Mr. Ardoino.
‘So no, I’m not worried.’
At the illustrious PlanB Forum in El Salvador, and later on the mysterious ‘X’, Ardoino painted a rather rosy picture of Tether’s approach, in stark contrast to its rivals who, in his view, are busy courting investors and currying favor with banks.
For a spot of context, Ardoino was grilled on the subject of Tether’s pesky competitors.
“Tether, in its infinite wisdom, has spent the last decade crafting the most extensive digital and physical distribution network known to mankind,” Ardoino declared. “While some competitors fawn over investors and bribe banks with incentives, Tether stands tall with its legions of partners, installing kiosks in every nook and cranny of the developing world, digital platforms teeming with tens of millions of users, and technology that is nothing short of spectacular.”
According to Ardoino, this grand scale has empowered USDT to bring financial enlightenment to a staggering 400 million souls in emerging markets, many of whom have never darkened the door of a traditional bank.
During the PlanB Forum El Salvador, I was queried thusly:
Querulous Journalist: Are you worried about USDt competitors?
Ebullient Me: Alas, the masses do not grasp that Tether has spent a decade weaving the most extensive digital and physical distribution network in the annals of humanity.
While some…— Paolo Ardoino 🤖🍐 (@paoloardoino) February 7, 2025
Ardoino also took a moment to extol Tether’s patriotic role in propping up the U.S. economy through the strategic acquisition of U.S. Treasuries, thereby solidifying the dollar’s reign as the queen of currencies.
With a serene confidence in Tether’s unassailable market position, he concluded with an air of nonchalance, “So no, I’m not worried.”
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2025-02-07 19:27