In his Friday look on CNBC, Tether CEO Paolo Aldoino mentioned USDT is the hub for hegemony within the US greenback.
“We’re the corporate that created three new and essential options of forex. The primary function is monetary inclusion…it's an amazing function. However on high of that, we’re spreading the hegemony of the US greenback. I imply, I feel we’re a base… I feel we’re a base of US greenback hegemony,” he mentioned.
Aldoino emphasizes that Tether owns extra US Treasury than international locations resembling Germany, Spain and Australia.
“If we had been a rustic, we might be the 18th largest nation with the US Treasury,” he mentioned.
In response to Coingecko knowledge, Tether's USDT at the moment boasts a market capitalization of $152 billion.
Audit and Transparency
Paolo emphasizes that quarterly proof is being made by BDO, the fifth largest auditor on this planet.
With regards to “huge 4” audit corporations resembling Pricewaterhousecoopers (PWC), Deloitte, Ernst & Younger (EY), and KPMG, Paolo emphasizes that they’re nonetheless “very, very” cautious. That being mentioned, the Stablecoin large remains to be engaged in discussions with these juggernauts.
“We had the Chokepoint 2.0 ways… the identical individuals who handle the Huge 4 auditing firm are very cautious… we demand that you just be happy with the altering new panorama,” he mentioned.
Paolo emphasizes that hiring a “Huge 4” auditing firm stays “a high precedence” for Tether.
