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Highlights
- Tether CEO revealed how Donald Trump's reign could be bullish for USDT.
- The CEO also confirmed that a domestic stablecoin for USDT in the works.
- Meanwhile, Paul Ardoino brushed off claims of USDT's use in illicit activities.
Amid Donald Trump’s remarkable pro-crypto ushers, Tether CEO Paul Ardoino has recently taken the stage to reveal how the President can aid stablecoin USDT. Speaking to Dan Murphy on Wednesday, April 30, Ardoino highlighted vitalities regarding how Trump stirs optimism for the stablecoin, correlating America’s success to its cryptocurrency’s success. However, market watchers also remain apprehensive as this particular stablecoin has faced quite scrutiny regarding its involvement in illicit activities.
Tether CEO Reveals How Donald Trump Can Aid USDT: Details
Upon being asked-“How much of Tether’s future success actually hangs on Donald Trump staying in power?” Ardoino replied that he primarily relates USDT’s success to America’s success. The CEO emphasized that his firm stands as an exporter of what they believe is the best product the U.S. created (the U.S. Dollar).
Notably, Paul spotlights how a majority of the population outside of the U.S. would prefer holding the American dollar instead of their traditional currency, thanks to Trump. To this, he adds that “if u ask 1000 people outside the U.S. about their preference, at least 999 will choose the dollar.”
In addition, the CEO also confirmed that a domestic stablecoin for the nation is in the works. The current internationally accepted stablecoin is designed for high-inflation markets, he added. However, the new domestic stablecoin will be more of a payment product used by institutions and people nationwide. Market watchers can expect its launch by the end of this year or as soon as the beginning of next year, Ardoino said.
However, Murphy asked the CEO how he plans to mitigate the use of USDT by nefarious actors, as also stressed by the NY Times recently. To this, the Tether lead replied that people forget to consider how infinite amounts of cash (U.S. dollars) are used for illicit activities. Nevertheless, the stablecoin giant reassured that they use ecosystem monitoring tools to prevent such mishaps.
Overall, the stablecoin giant continues to cement its top ranking, as underscored by the abovementioned metrics. Meanwhile, the entity remains primed to reach further heights as Donald Trump continues to fuel pro-crypto endeavors in America, while also taking measures to increase the dollar’s value.
Besides, it’s also worth remembering that the stablecoin giant recently minted $1 billion USDT on Tron, further expanding its foothold in the sector.
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