212 - Tether CEO on Their $100B Stablecoin ($USDT)

Paolo Ardoino is the CEO of Tether, the $100 Billion stablecoin company that owns more U.S. Treasuries than most countries.

We explore why Tether is winning, how it’s helping people in emerging markets and what really backs a $USDT. We also cover the state of the stablecoin regulation and even market competitors.

Tether has been and it’s still a target of Fud in the Crypto industry. Paolo is here to refute that Fud and much more.

------ 🏹 USE PODCAST24 FOR 10% OFF https://bankless.cc/Citizen2024 

------ 🎧 Listen On Your Favorite Podcast Player:  https://bankless.cc/Podcast 

------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠ 

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo   

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle   

⚖️ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum  

🦄 UNISWAP | SWAP SMARTER https://bankless.cc/uniswap 

------ TIMESTAMPS

00:00 Intro 6:52 Paolo Background 11:01 The History of Tether 15:40 USDT in Emerging Markets 25:30 Why not Bitcoin? 28:25 What’s Backing Tether? 42:25 Banking Risks 54:59 Tether Reserves Breakdown 59:39 Becoming Too Big 1:06:23 The Stablecoin Wars 1:11:18 Freezing Funds 1:13:45 USDT Competitors 1:16:59 Tokenized T-Bills 1:19:55 Tether on Tron 1:24:53 Regulation 1:26:14 The Value of Tether 1:29:10 Closing & Disclaimers

------ RESOURCES

Paolo Ardoino https://twitter.com/paoloardoino 

Tether Transparency Reports https://tether.to/en/transparency/#reports  

Circle’s Caroline Hill on Congress https://twitter.com/Pledditor/status/1758243599446089799  

JPMorgan negative on Tether https://www.theblock.co/post/275643/jpmorgan-tether-negative-crypto  

------ Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets.

See our investment disclosures here: https://www.bankless.com/disclosures