Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin’s realized cap adds $ 3B – this is why BTCs Rally is not over

2025-05-22

World3 Powers AI-driven Governance on-Chain with Quack AI

2025-05-22

FIFA starts Avalanche L1 to Power Soccer NFT Collectibles Platform

2025-05-22
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    World3 Powers AI-driven Governance on-Chain with Quack AI

    2025-05-22

    Validation Cloud implements AI -Engine on Hedera

    2025-05-22

    Sony announces the Mavet launch of Soneium Blockchain

    2025-05-21

    Nitro Labs launches data anchor to lower the storage costs of Solana

    2025-05-21

    Zimbabwe rolls out blockchain-based carbon credit market system

    2025-05-21
  • NFT

    FIFA starts Avalanche L1 to Power Soccer NFT Collectibles Platform

    2025-05-22

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Bitcoin price reaches new all time above $ 111,000

    2025-05-22

    Analyst predicts huge Bitcoin outburst based on one gold graph, sees the Altcoin market following

    2025-05-22

    Bitcoin price rays to New All Time Bulls takes the lead

    2025-05-22

    Mike Novogratz says that weakening dollars, broadening the shortage and the deteriorating financial situation of America ‘very good’ for Bitcoin and Crypto

    2025-05-21

    Does the XRP price mirror the Rally of 2017? Analyst points to agreements

    2025-05-21
  • Learn

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Blockchain»Tether has no plans to build a blockchain, says CEO Paolo Ardoino
Blockchain

Tether has no plans to build a blockchain, says CEO Paolo Ardoino

2024-11-04No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Tether CEO Paolo Ardoino shut down rumors of a Tether blockchain, stating: “Tether has no plans to build an official blockchain at this time.”

Instead, Tether is backing the integration of its stablecoin, USDT, on different networks to support decentralized use cases, such as gas fees, on independent Layer 2 (L2) solutions.

Tether’s stance on neutrality guides this decision, with the motto ‘Unstoppable TogETHER’, indicating a preference for collaborating with other projects rather than consolidating control.

The rumor mill surrounding a potential Tether chain is fueled by the company’s dominance and constant attention from regulators. But Ardoino added:

“Any product/announcement made in the next week would probably end up being swept away by the election noise. I have to postpone the release of new products by seven days.”

Tether’s market dominance and surveillance

USDT is the largest stablecoin by market capitalization, pegged to the US dollar and valued at over $118 billion at the time of writing. It controls approximately 75% of the stablecoin market, cementing its role as the main fiat gateway in the crypto ecosystem.

USDT allows traders on various exchanges to quickly move in and out of crypto, bridging the gap between digital assets and fiat money.

Tether’s expansion into different networks fueled the blockchain rumors. Recently, Tether launched USDT on The Open Network (TON), increasing the offering on TON to over $1 billion shortly after.

Regulatory scrutiny has kept Tether in the spotlight, with investigations into possible involvement in money laundering and sanctions violations. These probes are making waves in the market. Tether’s reserve support and transparency have come under fire.

See also  Family Offices are getting ready for Blockchain and Crypto

USDT itself briefly fell below its dollar peg as news of the investigations emerged, a reaction that underlines the market’s sensitivity to all things Tether.

Tether’s transparency issues are not new either. The last full audit took place in 2021, leaving investors wary of its financial health. Critics like Cyber ​​Capital founder Justin Bons are calling Tether a “scam,” accusing the company of not having enough reserves and likening it to “printing counterfeit money.”

The market buzz over Tether’s governance — whether it would benefit from a more transparent structure, like its own chain — has grown louder. But Tether is sticking to its “no blockchain” stance regardless of outside pressure.

Ripple’s CEO even went so far as to predict a “Black Swan event” related to Tether’s regulatory issues, hinting at potential consequences if Tether does not address its transparency issues.

Amid this speculation, the industry is wondering whether a Tether blockchain could address compliance and make Tether’s operations less opaque. But so far, Tether refuses to entertain the idea.

Response to allegations of manipulation

Tether has faced waves of accusations that USDT is being used to manipulate crypto prices, especially Bitcoin. The company has responded to these claims by calling them “reckless and false.”

According to Tether, the idea that USDT is being issued to drive up prices reveals a lack of understanding about the stablecoin’s role in the market. Tether’s general counsel argues that such accusations fail to understand the fundamental dynamics of USDT’s interaction with crypto markets.

Academic studies are fueling some of this criticism, with a high-profile paper by John M. Griffin and Amin Shams suggesting that Tether issuance is driving Bitcoin prices. Tether fired back, calling the study “fundamentally flawed.”

See also  Zilliqa Revolutionizes Blockchain Ecosystem With Ethereum Virtual Machine (EVM) Integration

The company claims that the authors relied on limited and cherry-picked data and lacked precise transaction details and exchange flows, which skewed their conclusions. Tether argues that the patterns could just as easily represent legitimate purchases as unsecured issuances.

Tether claims that each USDT token is fully backed by reserves, issued based on market demand rather than for price manipulation. They emphasize that the issuance of USDT reflects utility and acceptance on exchanges, and not attempts to meddle with prices.

In legal battles, Tether and Bitfinex, its affiliated exchange, claim the allegations against them lack evidence. Plaintiffs claiming price inflation was coordinated through USDT have not provided sufficient evidence, according to Tether’s legal team.

Tether emphasizes that USDT growth and issuance levels reflect utility and demand in the market – and not any behind-the-scenes manipulation.

Source link

Ardoino Blockchain Build CEO Paolo Plans Tether
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

World3 Powers AI-driven Governance on-Chain with Quack AI

2025-05-22

Strive Eyes 75,000 Mt. Gox bitcoin to build treasure chest prior to merger

2025-05-22

Validation Cloud implements AI -Engine on Hedera

2025-05-22

Sony announces the Mavet launch of Soneium Blockchain

2025-05-21
Add A Comment

Comments are closed.

Top Posts

Tech Entrepreneur Accused of Massive $290,000,000 Crypto Fraud, Theft and Money Laundering: Report

2023-09-05

NodeMonkes leads NFT sales with a sharp decline

2024-04-08

Bitcoin prize steadies – is a meaningful leap on the horizon?

2025-03-14
Editors Picks

Bitcoin 65% Crash Possible? $54 million in purchase orders pile up to $12,000

2023-11-30

Terra Luna Ecosystem Skyrockets as Luna Classic (LUNC) Price Dominates! What’s next for the LUNC Prize?

2023-09-27

Manta Pacific leverages the availability of Celestia data and aims to lower costs on the Layer 2 network

2023-12-19

“DoorDash, but for Bitcoin NFTs.” Confused? Save explanation…

2023-11-30
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin’s realized cap adds $ 3B – this is why BTCs Rally is not over

World3 Powers AI-driven Governance on-Chain with Quack AI

FIFA starts Avalanche L1 to Power Soccer NFT Collectibles Platform

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$111,294.544.55%
  • ethereumEthereum(ETH)$2,650.874.77%
  • tetherTether USDt(USDT)$1.00-0.05%
  • rippleXRP(XRP)$2.423.03%
  • binancecoinBNB(BNB)$686.615.15%
  • solanaSolana(SOL)$177.585.25%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.2408346.52%
  • cardanoCardano(ADA)$0.806.55%
  • tronTRON(TRX)$0.2768162.24%
  • suiSui(SUI)$3.84-1.89%
  • chainlinkChainlink(LINK)$16.495.20%
  • avalanche-2Avalanche(AVAX)$25.0510.92%
  • hyperliquidHyperliquid(HYPE)$30.8717.08%
  • stellarStellar(XLM)$0.2992203.30%
  • shiba-inuShiba Inu(SHIB)$0.0000155.12%
  • hedera-hashgraphHedera(HBAR)$0.2026914.03%
  • bitcoin-cashBitcoin Cash(BCH)$430.238.15%
  • unus-sed-leoUNUS SED LEO(LEO)$8.890.61%
  • the-open-networkToncoin(TON)$3.163.05%
  • polkadotPolkadot(DOT)$4.884.63%
  • litecoinLitecoin(LTC)$98.473.86%
  • moneroMonero(XMR)$403.2211.44%
  • bitget-tokenBitget Token(BGB)$5.242.10%
  • pepePepe(PEPE)$0.0000145.83%
  • piPi(PI)$0.832.60%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.04%
  • bittensorBittensor(TAO)$469.2413.81%
  • uniswapUniswap(UNI)$6.373.43%
  • aaveAave(AAVE)$254.010.99%
  • nearNEAR Protocol(NEAR)$2.987.20%
  • aptosAptos(APT)$5.414.84%
  • okbOKB(OKB)$52.821.90%
  • ondo-financeOndo(ONDO)$1.006.20%
  • official-trumpOFFICIAL TRUMP(TRUMP)$15.507.68%
  • kaspaKaspa(KAS)$0.1171335.90%
  • ethereum-classicEthereum Classic(ETC)$19.455.41%
  • internet-computerInternet Computer(ICP)$5.504.92%
  • gatechain-tokenGateToken(GT)$21.811.43%
  • crypto-com-chainCronos(CRO)$0.1000464.03%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2481557.25%
  • vechainVeChain(VET)$0.0300165.91%
  • render-tokenRender(RENDER)$4.986.94%
  • mantleMantle(MNT)$0.762.24%
  • ethenaEthena(ENA)$0.4024603.51%
  • usd1World Liberty Financial USD(USD1)$1.000.02%
  • arbitrumArbitrum(ARB)$0.4227656.70%
  • algorandAlgorand(ALGO)$0.2387816.11%
  • filecoinFilecoin(FIL)$3.025.55%
  • bitcoinBitcoin(BTC)$111,294.544.55%
  • ethereumEthereum(ETH)$2,650.874.77%
  • tetherTether USDt(USDT)$1.00-0.05%
  • rippleXRP(XRP)$2.423.03%
  • binancecoinBNB(BNB)$686.615.15%
  • solanaSolana(SOL)$177.585.25%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.2408346.52%
  • cardanoCardano(ADA)$0.806.55%
  • tronTRON(TRX)$0.2768162.24%
  • suiSui(SUI)$3.84-1.89%
  • chainlinkChainlink(LINK)$16.495.20%
  • avalanche-2Avalanche(AVAX)$25.0510.92%
  • hyperliquidHyperliquid(HYPE)$30.8717.08%
  • stellarStellar(XLM)$0.2992203.30%
  • shiba-inuShiba Inu(SHIB)$0.0000155.12%
  • hedera-hashgraphHedera(HBAR)$0.2026914.03%
  • bitcoin-cashBitcoin Cash(BCH)$430.238.15%
  • unus-sed-leoUNUS SED LEO(LEO)$8.890.61%
  • the-open-networkToncoin(TON)$3.163.05%
  • polkadotPolkadot(DOT)$4.884.63%
  • litecoinLitecoin(LTC)$98.473.86%
  • moneroMonero(XMR)$403.2211.44%
  • bitget-tokenBitget Token(BGB)$5.242.10%
  • pepePepe(PEPE)$0.0000145.83%
  • piPi(PI)$0.832.60%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.04%
  • bittensorBittensor(TAO)$469.2413.81%
  • uniswapUniswap(UNI)$6.373.43%
  • aaveAave(AAVE)$254.010.99%
  • nearNEAR Protocol(NEAR)$2.987.20%
  • aptosAptos(APT)$5.414.84%
  • okbOKB(OKB)$52.821.90%
  • ondo-financeOndo(ONDO)$1.006.20%
  • official-trumpOFFICIAL TRUMP(TRUMP)$15.507.68%
  • kaspaKaspa(KAS)$0.1171335.90%
  • ethereum-classicEthereum Classic(ETC)$19.455.41%
  • internet-computerInternet Computer(ICP)$5.504.92%
  • gatechain-tokenGateToken(GT)$21.811.43%
  • crypto-com-chainCronos(CRO)$0.1000464.03%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2481557.25%
  • vechainVeChain(VET)$0.0300165.91%
  • render-tokenRender(RENDER)$4.986.94%
  • mantleMantle(MNT)$0.762.24%
  • ethenaEthena(ENA)$0.4024603.51%
  • usd1World Liberty Financial USD(USD1)$1.000.02%
  • arbitrumArbitrum(ARB)$0.4227656.70%
  • algorandAlgorand(ALGO)$0.2387816.11%
  • filecoinFilecoin(FIL)$3.025.55%