Tether CEO Paolo Ardoino made a very harsh statement on his X account. Ardoino reacted greatly after Ripple CEO Brad Garlinghouse claimed that the US government was "the target of Tether" during his recent podcast.
Brad Garlinghouse has suggested that leading stablecoin issuer Tether will face major challenges. He also stated that due to the size of the company, he does not know what impact this situation will have on the broader cryptocurrency ecosystem. According to CoinGecko, the market capitalization of the USDT stablecoin is at a very high level of $110.8 billion.
Ardoino, who will head Tether in October, criticized Garlinghouse as an "uninformed CEO" in his post. He also pointed out the fact that Garlinghouse was leading the company being investigated by the SEC.
Moreover, Ardoino reminded that Ripple is preparing to launch its own stablecoin product that will compete with USDT. As previously reported, the SEC has already put the yet-to-be-launched stablecoin under review.
Ardoino continued to defend the security of the USDT ecosystem, pointing to its collaboration with blockchain analysis company Chainalysis as well as law enforcement agencies around the world.
“The facts show how Tether USDt, leveraging the transparency of blockchain technology and working with global law enforcement, complies with the requirements,” he said.
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