Tether CEO Fires Back at Ripple CEO's Warning

Tether CEO Fires Back at Ripple CEO's Warning

The crypto community is abuzz with the latest development in the ongoing feud between Tether and Ripple. Ripple CEO Brad Garlinghouse recently warned that Tether (USDT) is under scrutiny by US authorities, sparking concerns about the potential consequences for the crypto sector. However, Tether CEO Paolo Ardoino is not having it.

In a scathing response, Ardoino took to X to address the concerns and criticize Garlinghouse for spreading "unnecessary fear" about USDT. "An uninformed CEO, who leads a company being investigated by the SEC, and brings a competing stablecoin to market, spreads fear about USDT," Ardoino wrote.

Ardoino emphasized that USDT is the largest stablecoin by market share, with millions of users worldwide, and has helped people in developing countries without access to traditional banking. He also highlighted Tether's proactive measures, including the freezing of over $1.3 billion in connection with fraud and $1.6 million in connection with terrorism financing.

Furthermore, Ardoino pointed out that Tether responded to 198 inquiries from law enforcement agencies last year, with about half coming from US authorities. This, he argued, is a testament to Tether's transparency and cooperation with regulators.

The tension between Tether and Ripple has been building, with Ripple seeking to enter the stablecoin market and potentially compete with USDT. The community is watching closely to see how this drama unfolds.

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