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Satoshi Nakamoto

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<p>Tether CEO <a href="https://www.thecoinrepublic.com/2024/10/15/tether-eyes-commodity-market-plans-massive-usd-loans/" rel="noopener noreferrer nofollow">Paolo Ardoino</a> confirmed that the company has no plans to initiate an initial public offering (IPO). Tether does not go public to raise capital, Ardoino said, adding that the robust financial position of its business eliminates the need to do so.</p>
<p>Over the last two years, the stablecoin issuer has remained profitable at $12 billion. Tether does not need the extra liquidity a public listing would bring but can generate it with substantial revenue.</p>
<p>Ardoino says staying private gives the firm the agility and flexibility to innovate. With such an approach, Tether can travel through the digital asset landscape with fewer regulatory hurdles and more operational freedom.</p>
<p>The plan is to continue to be a disruptive part of the financial industry without the burden of public market scrutiny by forgoing an IPO. Ardoino’s words signal the firm’s desire to retain current direction—the firm needs to strike a balance between profit and the flexibility to adapt.</p>
<h2 class="wp-block-heading" id="h-focus-on-growth-over-public-listing"><strong>Focus on Growth Over Public Listing</strong></h2>
<p>Tether is diversifying its business and expanding into the market. In Turkey, the company recently proposed a project to tokenize boron as part of a push into commodity tokenization. Tether also looks into at-site commodity lending and other related financial services to expand.</p>
<p>Tether’s strategy is to use earnings to build and enhance its operational base. Ardoino told mentioned that staying private also has some benefits. In line with its expansion efforts, Tether relies on adaptability and rapid decision—making more than a public company because it is privately held, according to Ardoino.</p>
<h2 class="wp-block-heading" id="h-tether-ripple-resist-ipos-to-drive-innovation"><strong>Tether, Ripple Resist IPOs to Drive Innovation</strong></h2>
<p>According to his recent remarks, Ripple CEO <a href="https://www.thecoinrepublic.com/2024/07/19/2024-election-key-to-crypto-regulation-says-brad-garlinghouse/" rel="noopener noreferrer nofollow">Brad Garlinghouse</a> took a similar stance regarding public listing. Like Tether, Ripple has indicated that there will be no IPO plans. Each firm believes that private ownership best serves its respective innovation-focused missions.</p>
<p>Tether and Ripple note that their available resources and revenues suffice for present and future growth requirements. Finally, a shared perspective is a developing trend amongst blockchain companies in choosing to stay private to maintain operating flexibility.</p>
<p>Firms also say they like keeping control over their resources so they can make progress without having to answer to public shareholders.</p>
<h2 class="wp-block-heading" id="h-bitcoin-creator-statue-unveiled"><strong>Bitcoin Creator Statue Unveiled </strong></h2>
<p>Tether unveiled a life-sized statue of Bitcoin creator Satoshi Nakamoto in Lugano. During the third annual Plan ₿ Forum, the statute highlighted Nakamoto’s role in decentralized finance.</p>
<p>The City of Lugano partnered with Tether in setting up the statue, which represents a symbol of Bitcoin and blockchain’s impact on global finance. Under its Plan ₿ initiative, the firm works with community partners to promote the adoption of <a href="https://www.thecoinrepublic.com/price-prediction/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> and blockchain technology.</p>
<h2 class="wp-block-heading" id="h-tether-ceo-denies-federal-investigation-claims"><strong>Tether CEO Denies Federal Investigation Claims</strong></h2>
<p>Another less favorable development that soon followed the abovementioned updates, was the Wall Street Journal’s report claiming ongoing Federal investigations into Tether. According to the report, authorities were allegedly looking into likely violations of anti-money laundering rules and sanctions.</p>
<p>Claiming this to be untrue, Tether CEO Paolo Adroino, stated that there was “no indication” of any such investigation.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">As we told to WSJ there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.</p>— Paolo Ardoino <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f916.png" alt="🤖" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f350.png" alt="🍐" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@paoloardoino) <a href="https://twitter.com/paoloardoino/status/1849876338573799912?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 25, 2024</a>
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  He further stated that the firm regularly works with law enforcement officials to help prevent misuse of USDT, adding,
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<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>“We would know if we are being investigated as the article falsely claimed. Based on that, we can confirm that the allegations in the article are unequivocally false.”</p>
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<p>Meanwhile, the crypto market has not taken this news very well, reflecting volatility as prices fluctuated in response to these news updates.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/10/26/tether-ceo-confirms-profitability-denies-federal-probe-claims/" rel="noopener noreferrer nofollow">Tether CEO Confirms Profitability, Denies Federal Probe Claims</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Tether CEO Confirms Profitability, Denies Federal Probe Claims

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