Ripple CEO Brad Garlinghouse Warns of US Government Targeting Tether
Ripple CEO Brad Garlinghouse Claims US Government is Targeting Tether
Ripple CEO Brad Garlinghouse has warned of potential US government action targeting Tether, the issuer of the largest stablecoin by market capitalization.
US Government is Going After Tether
According to Garlinghouse, the US's potential action against the stablecoin issuer could trigger a significant disruption in the crypto space.
Garlinghouse said: 'The US Government is going after Tether. That is clear to me. I view Tether as a very important part of the ecosystem and I don't know how to predict the impact it would have on the rest of the ecosystem.'
This assertion comes amid revealing finds about the exploitation of USDT by terrorist organizations and sanctioned countries to evade US financial restrictions.
Tether's USDT Stablecoin
Despite controversies, Tether emphasizes compliance standards and law enforcement collaboration to combat illicit financial activities. The company has taken proactive measures, including freezing addresses involved in unlawful activities.
Tether's USDT maintains its leading stablecoin position by market cap, with a circulating supply of approximately $110 billion and a historic net profit of $4.52 billion in the first quarter.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.