Head of Ripple about Tether

Brad Garlinghouse, head of Ripple made an interesting but unexpected statement. He expressed concern about the close ties that the US government wants to establish with the stablecoin operator Tether.

Garlinghouse stated that Tether would almost certainly be the next target of the US government, and could collapse, similar in impact to the collapse of the FTX crypto exchange.

Mr Garlinghouse may have some additional information, but I don’t think Tether has any problems with the US government. More precisely, let’s say that almost all crypto companies have problems with the American government, just not all of them know about it yet. 

As for Tether, it did have problems with the opacity of stablecoin reserves. The problem was solved by paying a relatively humane fine. At the same time, Tether actively cooperates with the US government by undertaking to block the purses of users on the sanction lists. 

The controversy between the US government and Tether is contradicted by the ever-expanding geography of the USDT’s presence and the de facto zero level of opposition from regulators.

Remember what happened when Binance had these kinds of conflicts. Criminal investigations have been launched, and regulators have effectively blocked work in America and Europe. Nothing like this happens with Tether.

On the contrary, in Latin America, where the US is particularly strong, Tether is actually replacing national currencies.

Tether has shown its bargaining power, and the government does not need to resort to extraordinary measures of pressure. In addition, it is advantageous for the government not to limit the turnover of the USDT, but to take it under control. And this has already begun to be realized gradually. 

However, the term "US government" means many elitist groups, and it cannot be excluded that any of them will not have a claim against Tether.

#Tether #Ripple #USDT