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Navigating Regulatory Challenges
Paolo Ardoino, CEO of Tether, recently discussed the company’s past regulatory issues and its efforts to improve transparency.
He acknowledged that Tether faced significant challenges, including investigations for anti-money-laundering violations.
These issues stemmed from a lack of communication and transparency, which Tether has since improved by publishing quarterly statements and expanding cooperation with authorities.
Significant Holdings in US Treasury Bills
Tether has become one of the largest holders of U.S. Treasury bills, with its portfolio now worth approximately $113 billion.
This substantial investment underscores Tether’s commitment to backing its stablecoin with liquid assets.
Enhancing Global Dollar Stability
Ardoino emphasized Tether’s role in promoting dollar stability globally, especially in countries with unstable currencies.
He referred to Tether as the “last stronghold of the dollar,” highlighting how stablecoins like USDT help maintain the dollar’s global dominance.
Collaborating with Law Enforcement
Tether actively collaborates with over 200 agencies worldwide, including the FBI and U.S. Secret Service, to combat illicit activities.
This cooperation demonstrates Tether’s commitment to regulatory compliance and its efforts to address past criticisms.
