CandleFocus Tether uses gold to back new synthetic dollar as gold is less volatile than Bitcoin, says Paolo Ardoino
2024-09-07
Author: Content Editor
Tether's CEO, Paolo Ardoino, stated that the company chose to back its new synthetic dollar, aUSDT, with gold due to its relative stability compared to Bitcoin. The introduction of aUSDT aims to increase confidence and transparency in the crypto market, and provide a more stable and transparent alternative to Tether's original stablecoin, USDT. Paolo believes that the upcoming US presidential election will have a significant impact on the crypto industry. Regarding the regulatory environment in the US, Ardoino expressed the need for a balance between innovation and government regulations. He emphasized the importance of good regulations to create a stable and secure environment for the industry to thrive.
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