“We think we are doing the best we can,” Ardoino said.
Tether would be under scrutiny by authorities in the US and other countries for compliance issues.
Paolo Ardoino, the CEO of Tether Limited, the company that issues the USDT stablecoin, faced public and media scrutiny after the publication of an article in the Wall Street Journal suggesting a criminal investigation into possible violations of sanctions and anti-money laundering laws. . Ardoino stated that they have no intentions of “fighting” against the United States.
“If the United States wanted to kill us, it can press a button and do it anywhere,” declared the businessman.
The controversy began last week, when the prestigious American newspaper reported on the investigation, based on “people familiar with the matter,” without presenting conclusive evidence.
This report triggered a correction in the price of bitcoin, which fell to $66,700although it quickly recovered ground, closing above $72,700, close to its all-time recordat the close of this article.
That day, Ardoino took to Platform X to question the veracity of the WSJ article, arguing: “There is no indication that Tether is under investigation. The WSJ is regurgitating old rumors.”
Tether and its stablecoin USDT have been under the eye of regulators. Last April, US senators They advocated for limits on the use and issuance of USDTreflecting concerns about its impact on the economy and its potential for money laundering.
Despite this, Tether has openly collaborated with the US Department of Justice, although the UN issued a warning earlier this year about the use of USDT for illicit activities.
During the recent interview, which took place within the framework of the Plan B Forum event, in Lugano, Switzerland, Ardoino highlighted Tether’s cooperation with the authorities:
“We may not be the best at showing up, but what matters is that we brought the FBI into Tether’s compliance systems, we brought in the United States Secret Service. “We have letters of thanks from the Department of Justice… We think we are doing the best we can.”
Paolo Ardoino, CEO of Tether Limited.
USDT, which is the largest stablecoin by market capitalization, has recently shown its financial strength by reporting an acquisition of more than 82,000 BTC for its reserves, a sign of confidence in the digital asset and its role in the global financial ecosystem.
This article was created using artificial intelligence and edited by a human Editor.
