CandleFocus Tether is not planning to build a blockchain, says CEO Paolo Ardoino
2024-11-04
Author: Content Editor
Tether CEO Paolo Ardoino has denied rumors of a Tether blockchain, stating that the company has no plans to build an official blockchain. Instead, Tether is focused on integrating its stablecoin, USDT, on various networks to support decentralized use cases. The company is committed to neutrality and prefers to work with other projects rather than consolidate control. Tether has faced regulatory scrutiny and investigations, which have raised questions about its transparency and reserve backing. Critics have accused Tether of lacking sufficient reserves and engaging in price manipulation. Despite these concerns, Tether maintains that every USDT token is fully backed by reserves and issued based on market demand. The company argues that USDT's growth and issuance levels reflect its utility and demand in the market, not manipulation.
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