Trump's Potential Impact on USDT
Tether CEO Paul Ardoino recently discussed the potential impact of a Donald Trump presidency on the USDT stablecoin. While acknowledging the scrutiny USDT has faced regarding illicit activities, Ardoino linked the stablecoin's success to the success of the US dollar, suggesting that Trump's policies could bolster both.
Tether's Future and Trump's Influence
In an interview, Ardoino stated that USDT's success is largely tied to the US dollar's strength and global appeal. He believes that Trump's policies have increased international preference for the USD, asserting that a significant majority of people outside the US would choose the dollar over their local currency. This increased demand for the USD, he argued, directly benefits USDT.
A New Domestic Stablecoin
Ardoino also confirmed that Tether is developing a domestic stablecoin for the US market. Unlike the current USDT, designed for high-inflation economies, this new stablecoin will focus on domestic payments and institutional use. The launch is expected by the end of 2024 or early 2025.
Addressing Concerns about Illicit Activity
Responding to concerns raised by the New York Times about USDT's use in illicit activities, Ardoino pointed out that vast sums of US dollars are also used for illegal purposes. He emphasized Tether's use of ecosystem monitoring tools to mitigate risks. This highlights the ongoing challenge of balancing innovation in the crypto space with the prevention of financial crime.
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Disclaimer: This content reflects the views of the interviewee and does not constitute financial advice. Market conditions are dynamic, and thorough research is essential before any investment decisions.