In a recent interview, Paolo Ardoino, CEO of Tether, discussed the evolution of Tether’s strategy since he took over in December. He emphasized that Tether has transformed from just a stablecoin company to a platform for disintermediation in various industries. They are investing in peer-to-peer communication, education, artificial intelligence, and more to build a more efficient digital dollar for global users.
Ardoino explained the importance of disintermediation, resiliency, and independence in building a society for the apocalypse. By focusing on these aspects, Tether aims to create a system where survival does not depend on decisions made miles away. He highlighted the need for control over technology, communication systems, energy production, and money, especially in countries like El Salvador where external factors control key aspects.
Tether’s profitability allows them to make significant investments without relying on LPs. Ardoino emphasized that keeping profits within the company enables them to focus on building technology and services that benefit humanity. Tether is set to launch new blockchain-based financial products and digital asset tokenization platforms to provide innovative solutions.
The company recently announced a decision to stop servicing some chains like Algorand, EOS, and Bitcoin Cash due to usage concerns. Ardoino clarified that the decision was about efficiency and maintaining a lean operation. When asked about conducting audits, he mentioned the challenges of finding auditing firms due to regulatory hurdles but expressed hope for better conditions under a more crypto-friendly government.
Ardoino addressed concerns about the lack of yield-sharing for USDT holders and acknowledged the rise of competitors like State Street in the stablecoin market. He welcomed more competition, emphasizing Tether’s success in serving users in underserved markets. He also shared insights on managing Tether’s Treasury portfolio amid changing economic conditions and upcoming regulations like the MICA legislation in Europe.
Regarding the impact of the presidential election on Tether, Ardoino discussed the potential consequences of different political stances, including Trump’s policies on crypto. He emphasized the need for regulatory clarity and expressed optimism about the future of stablecoins. Despite challenges and regulatory uncertainties, Ardoino remains committed to Tether’s mission of promoting financial inclusion and innovation in the digital asset space.
