Tether to Launch US Version of Stablecoin: A Comprehensive Overview of Ardoino’s Insights on Stablecoin Legislation, US Debt, and AI Strategies
Tether CEO Paolo Ardoino Shares Insights on First Lobbying Trip to the U.S.
On April 14, Tether CEO Paolo Ardoino shared his experiences from his first lobbying trip to the White House, directly addressing public concerns regarding stablecoin legislation. He also revealed how Tether plays a crucial role in the U.S. Treasury market, AI developments, and global financial stability.
Breaking the Rumors of “Not Daring to Enter the U.S.,” Ardoino Claims the Trip Was Quite Successful
Ardoino stated that he finally made it to the United States and enjoyed a lot of good food along the way. He acknowledged that there were many rumors suggesting he was “afraid to come to the U.S.,” but in reality, the trip went smoothly, and he received positive responses from many legislators.
Stablecoins as Key to Global Financial Connectivity, Enabling Everyone to Use U.S. Dollars
Paolo emphasized that U.S. legislative bodies have historically only considered how stablecoins function within the U.S., neglecting the actual pain points of global dollar usage. He pointed out:
- Turkey
- Argentina
- Africa
USDT has almost become the only stable way for people to hold U.S. dollars, with over 400 million users globally, which is a fact.
Supporting Legislation but Opposing Monopolization; Avoiding Power Games Between Government and Corporations
Ardoino believes that U.S. legislation regarding stablecoins is a positive development, but if it only allows asset management giants like Goldman Sachs and JP Morgan to issue stablecoins, it would not only violate the “American spirit” but also stifle innovation.
He advocates for regulations that ensure fair competition, focusing on collaborative supervision and fraud prevention rather than collusion between officials and businesses.
Tether as the Seventh Largest Buyer of U.S. Treasuries; Ardoino Calls It Quite Robust
Ardoino pointed out that Tether’s assets are quite robust, with approximately $144 billion of USDT issued and corresponding assets of $164 billion. He emphasized that Tether is the seventh-largest buyer of U.S. Treasuries in 2024, stating, “If we exclude intermediary countries like the Cayman Islands and Luxembourg, we are actually in the top five!” Paolo also noted that the funds are stored in U.S. domestic banks, complying with U.S. law enforcement and ensuring transparency.
MiCA Ultimately Harms Stablecoins; Ardoino Critiques Europe’s Lack of Progress
Discussing Europe, Ardoino criticized the European stablecoin regulation (MiCA), stating that while it seems clear and practical, it has led to issues. The requirement for assets to be stored in European banks has forced Tether to withdraw from certain markets. He reiterated his criticism that European legislation has not kept pace with the times.
Tether to Launch “U.S. Version of Stablecoin,” Different from USDT Targeting Emerging Markets
In response to potential restrictions, Ardoino previewed that Tether is about to launch a “U.S.-specific stablecoin,” which will serve a different purpose than USDT. He explained that Americans buy U.S. Treasuries to earn interest, while people in other countries directly use USDT as a savings account. Thus, Tether will adopt a “dual currency strategy,” issuing a new coin specifically for the U.S. market.
Ardoino Claims USDT’s Success Highlights Failures of Currency Policy
In addition to stablecoins, Tether continues to invest in Bitcoin, gold, and AI. He candidly stated that he is a Bitcoin enthusiast and pointed out that the greater the success of USDT, the more it reflects the failures of global currency policies. He also noted that without Tether, many people would be unable to access stable financial instruments.
Tether Also Engaging in AI, Focusing on Offline Translation to Protect Privacy
Ardoino revealed that Tether is set to launch an AI application capable of “translating documents offline,” which requires no uploads to servers. He emphasized that AI will inevitably be integrated into smartphones, relying on local device resources, which is not just innovation but a key to protecting personal data.
USDT Deployment Back to Bitcoin Ecosystem, Returning to Lightning Network
Tether is preparing to re-enter the Bitcoin ecosystem by deploying USDT onto the Lightning Network. He believes that Lightning is more decentralized and efficient than Ethereum’s L2, with greater potential for achieving “peer-to-peer payments” in the future.
Stop Complaining About Bitcoin’s Price; AI and Economic Trends Will Drive Tether’s Market Value Beyond a Trillion
Ardoino opined that the current Bitcoin (BTC) price around $80,000 is actually quite good. However, many only think about Bitcoin continuously rising, often calling for it to break $100,000 or even $1 million, which distracts from the fact that it is already at a very high and healthy price. He reminds everyone, “Be satisfied with what you have; don’t always complain that it’s not enough.”
Regarding whether Tether’s market value could exceed a trillion in the future, he outlined two scenarios: one is that as global geopolitical and economic chaos increases, the demand for stablecoins will rise. The other is that with the massive rise of robots, many AI agents will directly use stablecoins as a medium of exchange.
Risk Warning
Investing in cryptocurrencies carries high risks, and their prices may fluctuate dramatically, resulting in a total loss of principal. Please carefully assess the risks.
