Tether CEO Slams Ripple Chief for Spreading FUD About USDT

Tether CEO Paolo Ardoino criticized Ripple CEO Brad Garlinghouse for spreading fear, uncertainty and doubt (FUD) around USDT, the largest stablecoin offering.

on monday tweetArduino explained Tether's efforts to maintain the global financial ecosystem while maintaining regulatory compliance by working with law enforcement agencies to combat criminals.

Post FUD around USDT

CryptoPotato It was reported earlier Monday that Garlinghouse expressed concern about the US government's scrutiny of Tether during a recent interview with Chris Vasquez on the World Class YouTube channel.

Ripple's CEO said the US government is going after Tether, and he wasn't sure what the impact of the audit would be. Although he did not classify any potential enforcement action against the stablecoin company as a black swan event, he expected such an incident to occur soon. However, he believes Tether's potential saga with US authorities would be interesting.

Garlinghouse's comments sparked a much-anticipated reaction from Tether's CEO. Ardoino described Ripple's CEO as an “uninformed CEO” leading a company under investigation by the US Securities and Exchange Commission. He asked the rhetorical question “Cui Prodest,” referring to Ripple’s plans to launch a stablecoin in the coming months.

Tether's compliance efforts

Additionally, Ardoino provided an update on the health of the USDT ecosystem. He explained that the stablecoin and other Tether products responded to sanctions lists submitted by the US Office of Foreign Assets Control. The company's cooperation with law enforcement agencies in more than 40 countries has enabled it to block more than $1.3 billion worth of cryptocurrencies and approximately 339 wallets linked to illicit financial activities.

Arduino has expressed disappointment with most mainstream crypto media outlets promoting unhealthy narratives about Tether, although he has revealed information about the company's contribution to the cryptocurrency space in several interviews. He said the media was likely spreading this narrative “to protect the old guard of the financial institution.”

Tether's CEO insisted that Tether cooperates directly with regulators, unlike other stablecoin issuers that require court orders to operate.

“At Tether, we believe that our main mission is to ensure that our entire community can benefit from a secure global financial ecosystem. In fact, there are various critical requirements that stablecoins must meet in order to be widely adopted.” USDt has proven over time that it has With strong price stability, highly liquid reserves, top-tier custodians and deep compliance,” said Tether’s president.