If the U.S. Government Wanted to Kills Us, They Could – Tether CEO

Tether CEO Paolo Ardoino defended the company's compliance with international sanctions amid renewed scrutiny, stressing that Tether’s fate is ultimately in the hands of U.S. authorities.

He stated, “If the U.S. wanted to kill us, they can press a button and kill us anywhere,” and highlighted the company’s collaboration with the FBI and Secret Service.

This statement followed The Wall Street Journal reporting a DOJ investigation into Tether for potential sanctions violations, which caused a decline in Bitcoin and other cryptocurrencies. Ardoino later dismissed the report as “wildly irresponsible.”

Politico also raised concerns about Howard Lutnick, CEO of Cantor Fitzgerald, which manages Tether’s $80 billion in U.S. Treasury bills. Ardoino pointed out that Tether’s holdings cannot evade scrutiny since they are ultimately linked to the Federal Reserve.

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He noted that illicit use of USDT is negligible compared to the dollar, citing significant fines imposed on major banks for their failures in monitoring money laundering activities.

Looking ahead to the U.S. elections, Ardoino expressed hope that the winners will see the value of cryptocurrencies and stablecoins. Tether’s substantial Treasury holdings position it among the top 20 holders globally.

Ardoino emphasized that Lutnick’s support for Tether’s due diligence was crucial in its growth from a small issuer to a major player requiring a top-tier custodian. He believes that Tether’s push for financial inclusion appeals to both parties and that upcoming regulations will likely be beneficial for the company.