It’s ‘clear’ the US government is going after Tether — Ripple CEO
Brad Garlinghouse said he views Tether as an important part of the ecosystem and that its fate will be an “interesting one to watch.”
Ripple CEO Brad Garlinghouse says it is “clear” that the United States government is “going after” stablecoin issuer Tether — which could have an unpredictable impact on the crypto markets.
Garlinghouse said on a May 10 episode of the World Class podcast there would “100%” be another crypto-related black swan event like the collapse and subsequent uncovering of fraud perpetrated by FTX’s executives.
“The U.S. government is going after Tether, that is clear to me,” he said without elaborating and stopping short of suggesting any possible U.S. action against Tether would be the next black swan. He instead called it an “interesting one to watch.”
“I view Tether as a very important part of the ecosystem,” the Ripple boss said. He added he doesn’t know how to predict what impact potential U.S. regulatory action against Tether would have on the crypto ecosystem.
Garlinghouse’s comments come as Ripple plans to launch its own stablecoin in 2024.
Tether Holdings is the parent company of a web of similarly named subsidiaries incorporated worldwide responsible for various operations in issuing and managing the Tether
USDT
tickers down
$1.00
stablecoin — the world’s largest by market capitalization.
