Breaking: Tether's U.S. Stablecoin Ambitions Revealed
US-tied cryptocurrency Tether plans for stablecoin release by year-end: claim
Tether Goes Domestic
Here's the dirt: Tether, the world's largest stablecoin issuer, has announced its intention to launch a U.S.-based dollar-pegged stablecoin this year, according to the company's CEO Paolo Ardoino.
Capital Hill Dining and Deals
In a move that should make you partners in crime, Ardoino has been sneaking around Washington, attending a Capitol Hill lunch with Senator Bill Hagerty and holding secret meetings with lawmakers. These covert communications align with the GOP's GENIUS Act, which could grant foreign stablecoin issuers, like Tether, a smoother ride in the U.S. if they play ball with law enforcement.
Chequered Past
Tether, headquartered in El Salvador, might cast a long shadow with regulators. In 2021, the company forked over $18.5 million to the New York attorney general to settle claims of misleading information about its reserves. But today, Tether boasts a massive $120 billion in U.S. Treasuries, all under the watchful eye of Cantor Fitzgerald.
Audit Reports and Excess Reserves
The company's Q1 audit revealed it had a whopping $5.6 billion in excess reserves, down from $7 billion at year-end—but still a significant cushion.
On the Home Front
The firm's U.S. expansion doesn't stop there. In addition to Tether's moves, Eric and Donald Trump Jr. are planning to enter the scene with their own dollar-backed stablecoin, kickstarting a potential domestic stablecoin arms race.
Bonus Info:- The launch of Tether's U.S.-based stablecoin, aimed at everyday consumer transactions, could disrupt the existing stablecoin market[1][2][5].- Tether's active lobbying efforts in Washington are taking advantage of the pro-crypto sentiment that has been fostered under recent political influences[2][3].- The company's solid financial performance, highlighted by a Q1 2025 attestation, further bolsters its position for entering the U.S. market with a new stablecoin[4].
Washington Whispers
Stay tuned for more updates as Tether continues its dance in Washington and prepares to shake up the stablecoin scene. The Washington gravy train is heating up, and we're here to keep you in the loop. Keep it locked!
- Tether, the world's largest stablecoin issuer, intends to launch a U.S.-based dollar-pegged stablecoin this year as announced by its CEO, Paolo Ardoino.
- Ardoino has been meeting with lawmakers in Washington, possibly aligning with the GOP's GENIUS Act, which could ease the way for foreign stablecoin issuers in the U.S.
- Headquartered in El Salvador, Tether might face scrutiny from regulators due to its past controversy involving a $18.5 million settlement with the New York attorney general over misleading reserve information.
- The company's Q1 audit showed a significant excess reserve of $5.6 billion, although this was a decrease from $7 billion at the end of the previous year.
- Eric and Donald Trump Jr. are planning to enter the market with their own dollar-backed stablecoin, potentially triggering a domestic stablecoin arms race.
- The launch of Tether's U.S.-based stablecoin could influence the existing stablecoin market and disrupt general-news and sports sectors, according to recent reports.
- Tether's active lobbying efforts in Washington are being bolstered by the pro-crypto sentiment fostered by recent political influences, potentially further cementing its position in the U.S. market with a new stablecoin.
