Tether CEO Cautious About U.S. Expansion, But Sees Big Profits Ahead

‍‌‌‌‌‌‍‌‍‌‌‍‌‌‌‌‍‌‍‍‌‍‍‌‍‌‌‍‍‍

CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2025/01/17/tether-ceo-cautious-about-u-s-expansion-but-sees-big-profits-ahead/ on 2025-01-17. Article ID: SD19972Tf32b6588. Author: Michaela. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2025/01/17/tether-ceo-cautious-about-u-s-expansion-but-sees-big-profits-ahead/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

Tether, the stablecoin issuer, has considered expanding its presence in the U.S., but CEO Paolo Ardoino emphasized a cautious approach as the company awaits regulatоry clarity.

In a January 16 interview with Bloomberg TV, Ardoino said that the company is waiting for clearer regulatory guidelines before making decisions on expanding further. He stressed the importance of understanding the evolving legal landscape before taking any more steps.

Companies like Tether are expected to benefit from the incoming administration’s mоre crypto-friendly stance. It is “a great opportunity to start looking at the US environment and how it will change,” Ardoino stated.

This development comes as President-elect Donald Trump is anticipated to sign an executive order making cryptocurrency a national priority following his inauguration on January 20.

In October, Ardoino told attendees at the DC Fintech Week that the U.S. has been a leader in technological innovation across all sectors. However, he also noted that cryptocurrency regulations have not kept pace with this progress.

Tether To Exit EU?

Amid talks of Tether possibly expanding in the U.S., the future of Tether’s operations in European markets is uncertain as the European Union implements new stablecoin regulаtions, while USDT redemptions continue to rise.

The European Union’s Markets in Crypto-Assets (MiCA) regulations officially came into effect January 1, coinciding with a significant surge in USDT redemptions, which amounted to nearly $4 billion.

The redemptions marked the highest level since the onset of the ‘crypto winter’ in mid-2022, triggered by widespread revelations of fraud within thesector. This period of retreat culminated in the dramatic collapse of FTX and its associated market-maker Alamеda Research in November 2022 — once the largest buyer of USDT.

Since the redemptions started, USDT had been trading just under its $1 peg, indicating growing uncertainty among customers about Tether’s prospects in the new MiCA-regulated landscape.

Under the new regulatory framework, stablecoins like USDT that are deemed “significant” must ensure that 60% of their reserve assets are held in cash and stored within banks in the European Union.

Post Views: 64

MICHAELA

Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

THE SHIB IN YOUR SOCIAL FEED