Paolo Ardoino, CEO of Tether, received a warm welcome at the Cantor Fitzgerald Global Technology Conference in New York. The event marked his first official trip to the United States, a significant moment for the executive of the most influential stablecoin in the cryptocurrency sector.
During his speech, Ardoino addressed the topic of the numerous challenges that Tether has had to overcome, highlighting the investigations and regulations it has been subjected to in the United States. Despite the difficulties, the company has recorded an extraordinary growth, consolidating its dominant position in the cryptocurrency market.
Paolo Ardoino of Tether makes a triumphant entrance amid applause
The audience of the conference welcomed Ardoino with applause and expressions of support. A curious detail that caught attention was his informal attire: instead of opting for a classic suit, he chose a casual look with a light blue Ralph Lauren polo and gray khaki pants.
“I am happy to be here. It is my first trip to America and it is beautiful”,
Ardoino stated to the audience, emphasizing the company’s new approach towards the United States. For years, the CEO avoided the American territory, focusing on Tether’s operations in emerging countries with the goal of promoting financial freedom.
Paolo Ardoino talks about Tether’s turbulent past
Tether has long been under the scrutiny of the U.S. authorities, including the Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), and the New York State Department of Financial Services (NYDFS). In 2021, the company settled disputes with the CFTC and the NYDFS, bringing an end to some of the most significant investigations.
Referring to the challenges faced by Tether, Ardoino stated:
“We went through hell. There were people saying I would be arrested if I came to the United States… And yet we are still here.”
Tether dominates the stablecoin market
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According to the data presented at the conferenza, Tether generated a profit of 13 billion dollars in 2024 and maintains over 60% of the market share of stablecoin. The token USDT represents the largest slice of the global stablecoin market, with a capitalization of 143 billion dollars, far surpassing its main competitor, Circle (USDC), which stands at 58 billion dollars.
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Ardoino also anticipated a promising future for 2025, with innovative projects underway. Among these, the focus on education, artificial intelligence (AI) and tokenization of real-world assets (RWA).
The ties of Tether with the United States
Despite operating offshore and having announced the intention to establish its new headquarters in El Salvador, Tether maintains close ties with the United States. The company is among the main holders of American public debt, owning nearly 100 billion dollars in government securities and government-backed bonds.
If Tether were a country, it would rank among the top 20 holders of US debt, a fact that highlights its impact on the global financial system. This connection has strengthened its influence in the debates on the regulation of criptovalute.
The Secretary of the Treasury, Scott Bessent, stated during a summit at the White House that stablecoin are essential for maintaining the US dollar as the dominant global reserve currency. Ardoino has repeatedly emphasized this position, reiterating the key role of Tether in the global economic landscape.
Political support and strategic collaborations
Tether has also gained the support of influential figures in the United States government. The Secretary of Commerce, Howard Lutnick, former CEO of Cantor Fitzgerald, stated that his company manages Tether’s holdings in government securities. The Wall Street Journal reported that Cantor Fitzgerald has invested in Tether’s holding, further consolidating the ties between the company and the American financial system.
Furthermore, Tether has formed partnerships with the FBI and Secret Service, integrating them into its platform to counter any illicit activities. This commitment aims to improve the perception of security in the use of cryptocurrencies and to facilitate a dialogue with U.S. regulatory authorities.
Investments in the technology and media sector
In addition to cryptocurrencies, Tether has recently made a significant acquisition in the media sector, investing 775 million dollars in the video-sharing platform Rumble. Rumble is particularly popular among the conservative and right-wing audience in the United States.
Thanks to the support of Tether, the CEO of Rumble, Chris Pavloski, is planning the launch of a crypto wallet, with support for payments in USDT, Bitcoin (BTC) and XAUT (the stablecoin of Tether pegged to gold). During the speech of Ardoino at the conference, Pavloski repeatedly tried to contact him, emphasizing the synergy between the two companies.
A future in expansion for Tether
The event in New York marked a significant milestone in Tether’s global strategy. Although the company continues to operate primarily in emerging markets, its growing involvement in the United States demonstrates a willingness to engage with the American financial and regulatory system.
Despite the challenges faced, Tether has consolidated a resilient business model, combining technological innovation, financial growth, and strategic alliances. With a dominant position in stablecoins and investments across multiple sectors, the future of Tether appears stronger than ever.
