Since becoming CEO in December, Paolo Ardoino has transformed Tether from just a stablecoin company to a disruptor in the finance industry. Tether has become the biggest stablecoin in the market, with over 350 million users globally. Ardoino views Tether as more than just a cryptocurrency; it’s the digital dollar for millions of people around the world. He emphasizes disintermediation as a key aspect of Tether’s strategy, aiming to remove unnecessary intermediaries in various industries, including finance, telecommunications, education, and artificial intelligence.
Ardoino discusses the importance of disintermediation, resiliency, and independence for building a society prepared for any scenario, including an apocalyptic event. He explains how Tether is investing in technologies such as peer-to-peer communication, local artificial intelligence, and digital asset tokenization to create a more efficient and resilient ecosystem. By retaining profits within the company, Tether can fund initiatives that align with their vision of making humanity more resilient and independent.
As Tether explores new products and services, Ardoino shares his views on the evolving crypto landscape, including the rise of competitor stablecoins, the launch of yield-bearing stablecoins, and the entry of traditional financial institutions like State Street into the stablecoin market. He emphasizes the importance of maintaining Tether’s competitive edge while embracing healthy competition and innovation in the industry. Ardoino also addresses the decision to discontinue support for certain blockchain chains based on usage and resource optimization.
Regarding audits, Ardoino acknowledges the challenges in obtaining audits due to regulatory concerns but assures that Tether maintains a strong firewall between profits and collateral funds. He explains the segregation of funds and investments within the company to uphold transparency and security for USDT holders. Despite holding significant investments and managing multiple roles within the company, Ardoino remains committed to ensuring operational excellence and strategic leadership.
In discussing the potential impact of the presidential election on Tether and stablecoins, Ardoino expresses optimism about the future of crypto regulation under a new government. He emphasizes the importance of the US taking a leadership role in shaping crypto policies that promote innovation and clarity for the industry. Ardoino also addresses concerns about State Street’s entry into the stablecoin market and explains Tether’s approach to managing its Treasury portfolio amid economic uncertainties and inflation risks. Additionally, he outlines Tether’s strategy for complying with new European regulations while safeguarding user interests and advocating for a balanced approach to stablecoin regulation.
