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Tether Plans New U.S. Stablecoin Launch Amid Washington Outreach
By: bitcoin ethereum news|2025/05/03 20:30:01
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Tether to issue U.S. stablecoin by the end of 2025. CEO Ardoino courts Washington to shape crypto laws. Tether holds $120B in Treasuries, boosting transparency Tether, the world’s largest stablecoin issuer, is preparing to launch a new U.S.-based dollar-pegged stablecoin by the end of 2025 or early next year. CEO Paolo Ardoino broke the news during an interview at the Token2049 conference in Dubai, where he emphasised a change in company strategy toward closer regulatory alignment in the United States. The move is made during a visible pro-crypto turn in Washington during President Donald Trump’s tenure. Ardoino has played a front-and-centre role in the transition, holding meetings with legislators, participating in Capitol Hill events, and building relationships with crypto insiders. Washington Focus and Legal Strategy Tether, has been trying to establish itself as an open and collaborative organisation, as opposed to its troubled history. In 2021, the company paid $18.5 million to settle allegations from the New York attorney general regarding misstatements about its reserves. Ardoino stressed the company’s enhanced transparency and compliance, noting Tether now holds around $120 billion in U.S. Treasuries, with assets managed by Cantor Fitzgerald. The company also maintains $7 billion in excess equity to manage market volatility. The affiliation of Tether with Cantor, whose management features the sons of U.S. Commerce Secretary Howard Lutnick, has triggered certain concerns regarding conflicts of interest. Nevertheless, Ardoino maintains that there are measures in place to prevent any ethical violations. Meanwhile, the GENIUS Act, backed by the GOP and seen as favourable to firms like Tether, is drawing scrutiny for allegedly creating loopholes for foreign crypto issuers. Adding to the competition, Eric Trump and Donald Trump Jr. recently unveiled plans to introduce their U.S.-backed stablecoin through World Liberty Financial. Highlighted Crypto News Today: Pudgy Penguins (PENGU) Makes a Splash Among Top Gainers, Is This the Start of a Major Bull Run? Source: https://thenewscrypto.com/tether-plans-new-u-s-stablecoin-launch-amid-washington-outreach/
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