Is the U.S. Out to Get Tether? You Won’t Believe What They Have Planned! 😱

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Ah, a most delightful dose of political theatrics! It seems we are on the brink of a lovely little stablecoin bill that could, quite charmingly, snip the offshore strings to our beloved U.S. Treasury markets. What a scandalous affair, with murmurs of private interests lurking in the shadows of this supposed impartial lawmaking! 🎭

The ever-eloquent Tether CEO, Paolo Ardoino, is practically ringing the alarm bells himself, claiming there’s a dastardly scheme afoot to “Kill Tether.” One can only imagine the drama unfolding on Capitol Hill as this financial soap opera continues to enthrall us. 💅

On this fine Tuesday, our dashing Framework Ventures co-founder, Vance Spencer, has raised quite the ruckus regarding a “soon-to-be-revealed stablecoin markup.” His claim? That it may very well shove a shiny lock on centralized international stablecoin issuers, blocking them from the prestigious U.S. Treasury markets. Oh, how utterly scandalous! 😏

“A blatant attempt at regulatory capture by our U.S. players!” Spencer huffs, as if we’re living in the pages of a thrilling novel rife with intrigue and backstabbing. 🕵️‍♂️

In our amusing little world of digital tokens, U.S. dollar-pegged tokens firmly sit atop the throne, with Tether and Circle charming the market. Circle appears to be relocating to the bustling heart of New York, while Tether is frolicking off to El Salvador, simply marvelous! 🌎

In an astoundingly delightful twist, these stablecoin bill changes could mean Tether and its fellow international issuers will be barred from accessing their treasured reserve assets. How intriguing! 🎪

Our illustrious U.S. policymakers seem to be playing a two-pronged game with their stablecoin proposals. We have the GENIUS Act courtesy of Senators Tim Scott, Bill Hagerty, Cynthia Lummis, and Kirsten Gillibrand, and then there’s the STABLE Act, the House’s rather systematically structured equivalent brought forth by Representatives French Hill and Bryan Steil. Quite the select company, wouldn’t you say? 🥂

Ahem, Vance Spencer, however, neglected to specify which of these delightful bills sought to play such a cruel game with Treasury market access. Such suspense! 📉

“The largest stablecoins today are built overseas, and the largest source of demand is overseas – this is not changing no matter what!” Ah, dear Vance, your wit dazzles! 🥳 “A continued hostile regulatory stance will only see us regulated out of the picture like Europe with AI.”

— Vance Spencer, Framework Ventures co-founder

After Spencer’s riveting tweet, Ardoino took to the digital world with claims of competitors using their connections to push Tether into an isolated corner of the U.S. stablecoin arena. How quaint! He didn’t name names, but oh, the speculators had a field day, dusting off their crystal balls! 🔮

Strive Funds’ own gallant Matt Cole speculated that Circle, Tether’s star rival in this dicey game, was the mastermind behind this so-called “regulatory capture.” How deliciously conspiratorial! 🕶️

“Our competitors are meant to build a better product—not plot to ‘Kill Tether,’ but here we are,” Ardoino quipped, suggesting every clandestine meeting is merely a cover for their nefarious designs. Such fun! 🎉

— Paolo Ardoino, Tether CEO

“USDt is simply the finest tool for spreading U.S. dollar hegemony and outreach to emerging markets!” Our dear Paolo waxes poetic, speaking of their grand distribution network “from thousands of kiosks in Africa to delightful digital remittances!”

— Paolo Ardoino 🤖 (@paoloardoino) February 25, 2025

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2025-02-25 18:25