{"id":15192,"date":"2025-02-26T19:31:47","date_gmt":"2025-02-26T19:31:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=15192"},"modified":"2025-02-26T19:31:47","modified_gmt":"2025-02-26T19:31:47","slug":"paolo-ardoino-says-competitors-want-to-kill-tether-criticizes-new-stablecoin-bill","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=15192","title":{"rendered":"Paolo Ardoino Says Competitors Want To \u201cKill Tether,\u201d Criticizes New Stablecoin Bill"},"content":{"rendered":"<div>\n<p>While bolstering Tether\u2019s stablecoin USDT as the most successful tool for US Dollar hegemony and distribution across emerging markets, Tether CEO Paolo Ardoino has called out competitors for trying to sabotage Tether.<\/p>\n<p>In a lengthy <a href=\"https:\/\/x.com\/paoloardoino\/status\/1894372064783487172\" target=\"_blank\" rel=\"nofollow\">post on X<\/a> on 25 February 2025, Ardoino said, \u201cWhile our competitors business model should be to build a better product and even bigger distribution network, their real intent is \u201cKill Tether.\u201d<\/p>\n<p>\u201cEvery single business or political meeting that they have culminates with this intent,\u201d he added. \u201cWhile might seem an overstatement, it\u2019s a fact and it\u2019s being reported independently by hundreds of people inside and outside the digital assets industry in touch with the US administration.\u201d<\/p>\n<p><span style=\"font-weight: 400\">As the US Congress deliberates on new stablecoin legislation, Ardoino has raised concerns about what he perceives as deliberate attempts by competitors to undermine Tether\u2019s dominance in the stablecoin market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ardoino\u2019s remarks come in response to growing speculation about a forthcoming stablecoin bill that could significantly impact international issuers like Tether.<\/span><\/p>\n<p><strong>Explore:\u00a0<a href=\"https:\/\/99bitcoins.com\/news\/tethers-usdt-to-be-delisted-on-crypto-com-nine-other-tokens-at-risk\/\" rel=\"bookmark\">Tether\u2019s USDT To Be Delisted On Crypto.Com, Nine Other Tokens At Risk<\/a><\/strong><\/p>\n<h2><b>Ardoino Alleges \u201cRegulatory Capture\u201d<\/b><\/h2>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I don&#8217;t comment directly on regulation much but I would like to flag an emerging regulatory battle that is happening in D.C.<\/p>\n<p>The soon-to-be revealed stablecoin markup apparently has requirements to shut off access to the treasury market to centralized international stablecoin\u2026<\/p>\n<p>\u2014 Vance Spencer (@pythianism) <a href=\"https:\/\/twitter.com\/pythianism\/status\/1894109284197437869?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 24, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">The controversy was sparked by Vance Spencer, co-founder of Framework Ventures, who warned about a \u201csoon-to-be-revealed\u201d stablecoin bill that could restrict offshore stablecoin issuers from accessing US Treasury markets. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Spencer criticized this move as an example of \u201cregulatory capture,\u201d where US-based players allegedly use legislative influence to disadvantage foreign competitors. He argued that such measures would harm the global dominance of the US dollar. It would alienate international stablecoin issuers like Tether<\/span><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-ai-crypto-coins\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2 class=\"page-title\">Tether Clashes With JPMorgan Over Bitcoin Sale Suggestion<\/h2>\n<p>JPMorgan analysts believe that Tether will have to sell some of its assets in order to comply with US stablecoin regulations.<\/p>\n<p>In fact, the analysts suggested that Tether sell Bitcoin, precious metals, corporate paper, and secured loans. Tether being the largest stablecoin company could find itself in trouble over\u00a0<a href=\"https:\/\/financialservices.house.gov\/news\/documentsingle.aspx?DocumentID=409458\" target=\"_blank\" rel=\"nofollow noopener nofollow\">newly introduced regulations.\u00a0<\/a><\/p>\n<p>The STABLE Act sets stricter reserve standards and lets states regulate. Meanwhile, the GENIUS Act requires federal oversight of large issuers and allows the use of a wider range of reserve assets.<\/p>\n<p>Digital Assets Subcommittee Chairman Bryan Steil commented on the new stablecoin regulations and said, \u201cBy implementing a clear regulatory structure for payment stablecoins, we can support continued innovation, bolster the US dollar\u2019s position as the world\u2019s reserve currency, and protect consumers and investors.\u201d<\/p>\n<p>The JPMorgan analysts further said, \u201cUS stablecoin regulations requiring more transparency and frequent reserve audits pose additional challenges to Tether.\u201d According to the analysts, 34% of Tether\u2019s reserves would be noncompliant.<\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/paolo-ardoino-says-competitors-want-to-kill-tether-criticizes-new-stablecoin-bill\/\">Paolo Ardoino Says Competitors Want To \u201cKill Tether,\u201d Criticizes New Stablecoin Bill<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>While bolstering Tether\u2019s stablecoin USDT as the most successful tool for US Dollar hegemony and distribution across emerging markets, Tether CEO Paolo Ardoino has called out competitors for trying to sabotage Tether. In a lengthy post on X on 25 February 2025, Ardoino said, \u201cWhile our competitors business model should be to build a better [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-15192","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15192"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15192\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}