According to BlockBeats, Tether CEO Paolo Ardoino has taken to social media to address the Fear, Uncertainty, and Doubt (FUD) being spread about Tether and its stablecoin USDT by a competitor currently under investigation by the Securities and Exchange Commission (SEC). Ardoino reiterated the safety of the Tether ecosystem and highlighted several noteworthy aspects of it.
The CEO emphasized that USDT is the most widely used stablecoin in the world, boasting hundreds of millions of users in emerging markets and developing countries. He also pointed out that Tether complies with the Office of Foreign Assets Control (OFAC) and Specially Designated Nationals (SDN) regulations.
Ardoino further noted that Tether has an internal investigation team that uses various tools to monitor primary and secondary markets. Since its inception, Tether has collaborated with 124 law enforcement agencies in over 40 different countries.
In addition, Ardoino stated that Tether has frozen more than $1.3 billion since its establishment, primarily related to fraud, hacking, and machine learning. This includes $639 million frozen in cooperation with U.S. law enforcement agencies. These points were made in response to the FUD being spread by a competitor, demonstrating Tether's commitment to security and regulatory compliance.
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