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Tether CEO hits back at Ripple CEO's claim that it will become a regulatory target: "There's a stablecoin that can do it better"

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Tether CEO hits back at Ripple CEO

Yesterday, Tether's CEO Paolo Ardoino fought back against some companies or individuals' doubts about the stability of its stablecoin USDT and the security of the company through a tweet. Every word seemed to be aimed at Ripple's CEO Brad Garlinghouse's comments last week on a podcast, suggesting that the U.S. government is targeting Tether as a regulatory target.

Tether CEO Strikes Back at USDT FUD

Paolo Ardoino first pointed out the accused, stating that the individual is spreading rumors and panic about USDT:

According to reports, a CEO in uniform leading a company that has launched a competitive stablecoin and is under SEC investigation is spreading fear about USDT.

It is understood that Ardoino's comments are widely seen as a response to Ripple CEO Brad Garlinghouse's previous remarks, who discussed Tether's current regulatory situation on last Friday's World Class Podcast:

I am very aware that the U.S. government is targeting Tether as the next regulatory focus.

This aligns with Ripple CTO David Schwartz's previous stance, believing that Tether itself has regulatory issues and its stablecoin has too much uncertainty.

Furthermore, Tether emphasized that despite ongoing scrutiny from the U.S. government, the company has been committed to taking strict measures to prevent criminals from using its stablecoin; and has been cooperating with law enforcement agencies to assist in seizing illegal proceeds.

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Tether Spokesperson: Make a More Successful Stablecoin if You Can

On the other hand, a Tether spokesperson also told The Block:

We hope that the new stablecoin introduced by the Ripple team will achieve their greatest success ever.

It is reported that Tether, currently with a market value of about $111 billion, has been questioned not for the first time and has responded to others' statements before.

Previously, when faced with concerns from JPMorgan about Tether's dominance in the crypto market, Ardoino countered, stating that as a financial giant, their words are rather hypocritical.

Ripple CEO Clarifies: Not Attacking Tether

Seeing the controversy arise, Garlinghouse also commented below the tweet, stating that his mention of Tether in the podcast was not meant as an attack:

I am not attacking Tether, in the podcast I also mentioned that I believe Tether is a very important part of the crypto ecosystem.

He added, "What I mean is that the U.S. government has clearly stated that they want to strengthen control over USD-based stablecoin issuers; therefore, as the largest market participant currently, Tether is at the forefront."

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