📢 In response to rumors, Tether CEO released details of his company's USDT reserves!
The CEO of Tether (USDT) recently clarified some recent rumors about the company. Previously, the Wall Street Journal reported that the US Department of Justice issued a subpoena to Tether, sparking speculation about possible legal issues involving the company.
Tether CEO Paolo Ardoino stood up and said that the letter from the Justice Department was only to audit some details within the company and did not mean to file a lawsuit against the company. This clarification helps to calm market concerns that Tether may be involved in misconduct.
Tether's balance sheet shows that the company holds up to $100 billion in US Treasury bonds, 82,000 Bitcoins (worth about $5.5 billion) and 48 tons of gold reserves, which are used to maintain the market liquidity of USDT.
Considering that USDT's current circulation is $120 billion, and Tether's holdings of US Treasury bonds alone have exceeded $100 billion, plus Bitcoin and gold reserves, this further proves that USDT is a safe stablecoin.
The large amount of U.S. Treasury bonds held by Tether actually closely ties the company's interests to the U.S. economy, which can also be seen as a sound financial strategy for Tether.
On October 25, Tether's CEO also emphasized to the Wall Street Journal that there was no sign that Tether was under investigation, suggesting that the U.S. Department of Justice's actions were only to conduct some normal audit work.
In addition, Tether's CEO Paolo Ardoino called for an end to unnecessary speculation and noise, and emphasized that Tether would regularly cooperate with law enforcement officials to prevent USDT from being used for illegal activities, such as funding rogue states, terrorists and criminal acts.
Ardoino firmly believes that if Tether really faces a judicial investigation, he, as CEO, will be informed at the first time, but the actual situation is that this is just an event hype. Therefore, regarding the negative news and accusations about Tether, Ardoino said that these are false rumors.
In short, the quick response of Tether CEO is crucial to market stability and investor confidence. And we must treat any market fluctuations with rationality and patience.
💬 What do you think of the negative reports about Tether? At these critical moments, are you more inclined to take action or wait and see?
