Green

Simply

Phoenix

Dubai

<div class="intro-text">
 Paolo Ardoino, CEO of Tether, has dispelled rumours about the launch of an official “Tether Chain.” 
</div>
In a recent post on X, he wrote, “Tether is not currently planning to create an official blockchain.”
<blockquote class="twitter-tweet">
 I hear again few rumors about a Tether Chain. Tether is not planning to build an official blockchain at this time. Simply different independent L2 solutions are working to support <a href="https://twitter.com/search?q=%24USDt&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDt</a> for gas fees.
 — 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/1853154856065765793?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 3, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
In a follow-up post on November 4, Ardoino<a style="color: #0000ff;" href="https://x.com/paoloardoino/status/1853157037854646643?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1853157037854646643%7Ctwgr%5Ec497607900cebd3a5927a5d034381c1b3b6f67c2%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fcryptonews.com%2Fnews%2Ftether-drops-plan-to-build-an-official-blockchain-as-of-now-ceo%2F" rel="noopener noreferrer nofollow"> explained</a> that this decision to avoid launching an official blockchain for the time being is rooted in the importance of maintaining neutrality. He noted that the firm is currently focused on multi-network integration for its stablecoin and supporting gas fees across different blockchains instead of centralizing its operations.
Ardoino emphasized that Tether’s current strategy revolves around partnerships with other companies and communities, stating that their motto is “Unstoppable TogETHER.”
These comments follow an August interview where the CEO<a style="color: #0000ff;" href="https://www.bloomberg.com/news/newsletters/2024-08-22/why-tether-doesn-t-want-its-own-blockchain?srnd=phx-crypto" rel="noopener noreferrer nofollow"> claimed</a> that the blockchain market is becoming saturated. In the conversation with Bloomberg, he remarked that 
<blockquote>
 “blockchains will become almost a commodity in the future.” 
</blockquote>
At the time, he argued that launching a proprietary Tether blockchain may be unnecessary given the competitive landscape and high-performing existing networks.
Ardoino emphasized that successful blockchains must prioritize high speeds, low fees, and robust security, advocating for a “blockchain agnostic” approach to ensure the highest level of security and sustainability.
That same August, Ardoino<a style="color: #0000ff;" href="https://defi-planet.com/2024/08/tether-plans-to-double-workforce-by-mid-2025-ceo-paolo-ardoino/" rel="noopener noreferrer nofollow"> announced</a> Tether’s plans to double its workforce by mid-2025 with a focus on compliance.
Meanwhile, in his latest post, He<a style="color: #0000ff;" href="https://x.com/paoloardoino/status/1852318984655278333" rel="noopener noreferrer nofollow"> hinted</a> at upcoming product launches, initially expected this month, dubbing it “Tethember.” However, he later<a style="color: #0000ff;" href="https://x.com/paoloardoino/status/1853159309447700757?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1853159309447700757%7Ctwgr%5Ec497607900cebd3a5927a5d034381c1b3b6f67c2%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fcryptonews.com%2Fnews%2Ftether-drops-plan-to-build-an-official-blockchain-as-of-now-ceo%2F" rel="noopener noreferrer nofollow"> mentioned</a> that Tether has postponed the product launch date due to the upcoming U.S. elections in November. According to him, 
<blockquote>
 “Any product announcement made this week would likely be overshadowed by the election noise.”
</blockquote>
Notably, Tether<a style="color: #0000ff;" href="https://www.youtube.com/live/Y7zA6K8-oWM?si=wsDATxPfsBUd8v85" rel="noopener noreferrer nofollow"> unveiled</a> its Dirham-pegged stablecoin on the TON Blockchain during the Gateway 2024 event in Dubai on November 1. The company noted that it developed stablecoin in collaboration with Phoenix Group and Green Acorn.
&nbsp;
If you want to read more news articles like this, visit <a href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/11/tether-ceo-dispels-rumors-of-official-tether-chain-cites-market-saturation-and-need-for-neutrality/" rel="noopener noreferrer nofollow">Tether CEO Dispels Rumors of Official “Tether Chain,” Cites Market Saturation and Need for Neutrality</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Tether CEO Dispels Rumors of Official “Tether Chain,” Cites Market Saturation and Need for Neutrality

DeFi Planet

Other articles published on Nov 4, 2024

While Cardano and Ripple Plateau, Dogen Targets an Unbelievable 10,000x Rally by Year-End

Crypto Casino Metawin Hacked for $4M+ Due to Withdrawal System Exploit

Hopes for recovery dashed after ‘altcoin reckoning’ market stage arrives

Peanut The Squirrel Price Prediction: PNUT Plummets 37% As Elon Musk Denounces Killing, While Thi...

Altcoin Market Faces Final Reckoning Before Potential 2025 Recovery

JUST IN! Binance Announced Its New Altcoin Listed, Price Sudden Rise!

Join our free newsletter for daily crypto updates!