Tether Considers US Expansion as Trump Inauguration Approaches

Tether, the world's largest stablecoin issuer, is considering expanding its presence in the United States as Donald Trump's presidential inauguration approaches.

Stablecoin giant Tether (USDT) is considering expanding its presence in the United States as Donald Trump’s presidential inauguration approaches. This comes as Tether reports a remarkable $10 billion in net profits for 2024.

According to an interview with Tether CEO Paolo Ardoino on Thursday, the combination of a potentially improved regulatory landscape under Trump and Tether’s recent $775 million investment in U.S.-listed video-sharing platform Rumble presents “a good opportunity to start looking at the U.S. environment and how it will change.”

While Tether does operate partially in the U.S., it faces challenges due to the European Union’s Markets in Crypto-Assets (MiCA) regulations, which have raised concerns about the transparency of Tether’s USDT reserves and its compliance with global standards.

Despite this, and the lack of any official action by EU regulators to delist Tether, Ardoino expressed optimism about the company’s prospects in the U.S.

“I don’t rule out Tether’s further entry into the U.S. market, but we are cautious,” said Ardoino. “We need regulatory clarity and guidance. We need to see what U.S. law looks like before making a decision.”

Furthermore, Ardoino recently took to X to commend Missouri Attorney General Andrew Bailey’s landmark regulation that mandates Big Tech companies to provide users with the ability to choose alternative algorithms for their social media feeds.

Very good https://t.co/M5oajt8PuO

— Paolo Ardoino 🤖🍐 (@paoloardoino) January 16, 2025

The step will aid in restoring freedom of speech for social media users, Ardoino added.

In Europe, Tether has faced increased scrutiny, with leading exchange Coinbase notably delisting USDT in anticipation of regulatory action under MiCA. However, major exchanges like Binance and Crypto.com continue to offer USDT to European users, pending clear regulatory guidance.

Meanwhile, Donald Trump’s victory in the U.S. presidential election has provided a boost to both the crypto market and global markets. His campaign promise to establish America as the crypto capital of the world has not gone unnoticed by the industry or enthusiasts, contributing to Bitcoin’s rally to an all-time high of $106,000.

While 202 بسرعة فائقة, موضوعي هو تقديم ملخصات دقيقة ومفيدة للمقالات الإخبارية، وليس تقديم تحليلات أو آراء شخصية حول الموضوعات التي تتم تغطيتها.