Tether CEO Paolo Ardoino called Ripple’s Brad Garlinghouse an “uninformed CEO.”
Ripple’s CEO recently said that the US authorities are coming after USDT.
Garlinghouse noted that he wasn’t attacking Tether.
Tether chief executive Paolo Ardoino recently took to social media platform X to highlight the statement on USDT given by Ripple CEO Brad Garlinghouse in an interview, calling him an “uninformed CEO.”
As reported earlier, Garlinghouse said in an interview that the US authorities are targeting USDT and seeking to crackdown on the stablecoin, while adding that he cannot predict the impact that this would have on the digital asset sector.
Ardoino stated in a post on X that Garlinghouse is “spreading fear” about USDT and emphasizing that his firm seeks to roll out a competitive stablecoin. He also noted that USDT has “proved overtime to have strong price stability, highly liquid reserves, top tier custodians and profound compliance.”
Garlinghouse replied to the post by Ardoino, clarifying his statement, stating that Tether is indeed a very important part of the digital asset ecosystem, and noting:
“I wasn’t attacking Tether…the next words out of my mouth during the podcast were that I view Tether as a hugely important part of the ecosystem”
The Ripple executive claimed that his “point was that the US govt has clearly indicated they want more control over USD-backed stablecoin issuers, and thus, Tether, as the largest player, is in their line of sight.”
On the other hand, Tether has been planning expansion beyond the stablecoin business, recently announcing four new divisions.
The post I wasn’t attacking Tether,’ Ripple CEO Clarifies Statement on USDT appeared first on Coin Edition.
