Tether Chief Executive Paolo Ardoino revealed record reserve holdings, including $100 billion of U.S. Treasury securities, more than 82,000 Bitcoins worth about $5.5 billion.
Tether Chief Executive Paolo Ardoino revealed record reserve holdings, including $100 billion of U.S. Treasury securities, more than 82,000 Bitcoins worth about $5.5 billion, and 48 tons of premium-grade gold.
Speaking at the PlanB forum in Lugano, Switzerland, Ardoino's comments come amid renewed public scrutiny of the stablecoin giant following a Wall Street Journal report indicating possible investigations by U.S. authorities. The report alleged that the Department of Justice and the Department of the Treasury were looking into potential violations of anti-money laundering regulations and sanctions.
Ardoino did not take long to counter these claims, ardently claiming that no such probe was underway. He mentioned that Tether maintains regular, direct communication with law enforcement to prevent USDT misuse by bad actors.
Ardoino also reiterated several times that since 2014, the company has assisted in recovering approximately $109 million related to fraudulent activities, bypassing sanctions, and cybercrime.
With the company's unprecedented growth, such expansion makes much sense for Tether. The market capitalization of USDT surged to an impressive $120 billion in October 2024, signaling very strong market confidence despite increased regulatory scrutiny.
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