Tether CEO to take ‘cautious’ approach to US expansion, eyes larger profits
Tether CEO Paolo Ardoino indicated potential for increased U.S. presence, contingent on regulatory clarity. He emphasized the need for guidance on U.S. laws before making decisions. Ardoino noted that an improved regulatory environment could benefit Tether and similar companies. President-elect Donald Trump is expected to prioritize crypto regulation post-inauguration. Ardoino criticized the U.S. for lagging in crypto regulations, despite its technological leadership. Tether recently moved operations from the British Virgin Islands to El Salvador after receiving a digital asset service provider license. Tether anticipates exceeding its $10 billion profit forecast for 2024, having reported $2.5 billion in Q3 profits, totaling $7.7 billion by September. Tether's USDT stablecoin holds a 64% market share with a market cap of $137 billion.
