in a scathing post On social media platform .
in a scathing post On social media platform .
As reported by Guru-InvestingGarlinghouse said that it was “clear” to him that the leading stablecoin issuer was in trouble with the US government. Garlinghouse also added that it would be difficult to foresee the exact impact this will have on the ecosystem of cryptocurrencies wider due to Tether’s large size. According to CoinGecko, the market capitalization of the USDT stablecoin amounts to an impressive $110.8 billion.
Ardoino, who was fixed to head Tether in October, criticized Garlinghouse as an “uninformed CEO” in his position. He also pointed out the fact that Garlinghouse runs a company that is in fact being investigated by the SEC.
In addition, Ardoino recalled that Ripple is preparing to launch its own stablecoin product that will compete with Tether’s USDT. As reported by U.TodayThe SEC already described the yet-to-be-launched dollar-backed cryptocurrency as an “unregistered crypto asset” in its recent filing.
Ardoino went on to defend the security of the Tether ecosystem, noting his collaboration with blockchain detective Chainalysis, as well as law enforcement agencies around the world.
“Real facts show how Tether USDt, leveraging the transparency of blockchain technology and working with global law enforcement, can meet the requirements,” he said.
