PANews reported on March 13 that according to CoinDesk, Tether CEO Paolo Ardoino said in a speech at the Cantor Fitzgerald Global Technology Conference in New York that Tether has "experienced hellish challenges" in the past few years, but still maintains its market dominance and expands its business in multiple fields.
During his first visit to the United States, Ardoino had a conversation 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 been under strict scrutiny by 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 accounts for more than 60% of the market share, with a total market value of $143 billion, far exceeding its US competitor Circle (USD 58 billion USDC). In 2024, Tether made a profit of $13 billion and continued to invest in AI, education, and real-world asset (RWA) tokenization.
Although Tether is headquartered in El Salvador, it has close ties with the United States, including holding nearly $100 billion in U.S. Treasury bonds, making it one of the top 20 U.S. debt holders in the world. In addition, Tether has worked 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 functions.
At the conference, Ardoino emphasized Tether’s optimistic future prospects and reiterated the importance of stablecoins to the global dominance of the US dollar, which is in line with the latest policy direction of the US Treasury Department.
