Welcome to America: A New Chapter for Paolo Ardoino
Paolo Ardoino, Tether’s Chief Technology Officer, was met with enthusiastic applause as he took the stage at the Cantor Fitzgerald Global Technology Conference in New York. The event marked a significant moment for Ardoino, who is recognized as a prominent figure in the cryptocurrency industry.
Dressed in a casual light blue Ralph Lauren polo and gray khakis, Ardoino stood out in a room full of sharply dressed attendees. He opened his speech with a warm greeting, expressing his delight at visiting the United States for the first time, stating, “It’s beautiful. I feel very welcomed.”
Overcoming Adversity: Tether’s Journey
Ardoino’s visit comes after a prolonged absence from the U.S., as the Italy-born computer scientist focused Tether’s efforts on developing regions with the aim of promoting financial freedom. However, Tether has faced intense scrutiny from U.S. regulatory bodies, including the Department of Justice (DOJ) and the Commodities Futures Trading Commission (CFTC).
In recent years, the company has encountered various investigations, but Ardoino is optimistic about the future. “We’ve been through hell,” he told the audience, acknowledging the challenges faced along the way. “People were saying that if I came to the U.S., I’d be arrested … They will try to scare you off. We’re still here, right?”
Highlighting Tether’s Success and Future Projects
During his presentation, Ardoino reviewed Tether’s impressive accomplishments in the stablecoin sector, revealing that the company generated a remarkable $13 billion profit in 2024. He also emphasized that Tether’s stablecoin, USDT, commands over 60% of the market share among its peers.
Looking ahead, Ardoino shared insights into Tether’s ongoing projects, which include initiatives in education, artificial intelligence, and real-world asset (RWA) tokenization. “The outlook for this year is wonderful as well,” he remarked, indicating a positive trajectory for the company.
Navigating Regulatory Landscapes and Strengthening Ties
Ardoino’s U.S. tour coincides with legislative efforts to regulate the burgeoning $200 billion stablecoin market. With Tether’s USDT cryptocurrency valued at $143 billion, it leads the market, followed by Circle’s USDC token at $58 billion.
Despite Tether being an offshore entity—recently announcing plans to establish its headquarters in El Salvador—its connections to the U.S. are substantial. Tether is one of the largest purchasers of U.S. debt, holding nearly $100 billion in U.S. Treasuries and government-backed securities as reserves for USDT. If Tether were a country, it would rank among the top 20 U.S. debt holders.
Additionally, Treasury Secretary Scott Bessent highlighted the importance of stablecoins in maintaining the U.S. dollar’s status as the dominant global reserve currency, a perspective Ardoino has echoed in the past.
Strategic Partnerships and Investments
Tether has also formed valuable alliances, including support from the Trump administration through Commerce Secretary Howard Lutnick, former CEO of Cantor Fitzgerald, which manages Tether’s U.S. Treasury holdings. Reports indicate that Cantor has invested in Tether’s holding company, and Lutnick clarified that while Cantor holds Tether convertible bonds, it does not have an equity stake.
In a bid to combat illicit activities, Tether has collaborated with U.S. agencies such as the FBI and the Secret Service, integrating them into its platform.
On the investment front, Tether has made headlines with a significant $775 million stake in Rumble, a U.S.-listed video-sharing platform popular among conservative users. Rumble’s CEO, Chris Pavloski, has ambitious plans to introduce a crypto wallet and enable transactions using USDT, Bitcoin (BTC), and Tether’s gold-backed token (XAUT).
As Ardoino took the stage, Pavloski consistently reached out to him, underscoring the close connection between Tether and Rumble.
Conclusion
Paolo Ardoino’s appearance at the Cantor Fitzgerald Global Technology Conference not only highlights Tether’s resilience in the face of challenges but also showcases its ambitious plans for the future. As the stablecoin market evolves, Tether remains a key player, navigating regulatory hurdles and expanding its influence in the cryptocurrency landscape.
