Tether CEO Discusses Company's Evolution and Investments in Future Technologies

Paolo Ardoino, CEO of Tether, has discussed the company's evolution and its plans to invest in technologies such as Holepunch and local artificial intelligence to disintermediate and remove unnecessary intermediaries. Tether is also developing new blockchain-based products, but does not plan to launch its own chain and will stop servicing certain chains due to lack of usage. The company is considering cutting ties with certain blockchain networks, such as Bitcoin Cash, EOS, and Algorand, in order to remain lean and flexible. Ardoino also addressed the criticism of Tether not sharing yield with token holders, citing legal and practical reasons for their decision.

Ardoino expressed his thoughts on the potential impact of a Trump administration on Tether and the crypto industry, stating that the US has an opportunity to take back the lead and provide clarity for the rest of the world. He also discussed Tether's $400 million investment in Northern Data and the possibility of an IPO. Tether's success in emerging markets is due to the banking system leaving those countries hanging, and they are not very profitable for banks. The speaker believes that stablecoins, particularly European-based ones, pose a systemic risk to banks and regulators need to be aware of this.