Tether's Market Dominance and Future Prospects Highlighted at Global Tech Conference

According to PANews, Tether CEO Paolo Ardoino addressed the challenges and achievements of the company at the Cantor Fitzgerald Global Technology Conference in New York. Ardoino noted that Tether has faced significant challenges over the years but has maintained its market dominance and expanded its business across various sectors. During his first visit to the United States, Ardoino engaged in discussions with the Bitcoin Policy Institute and Strike CEO Jack Mallers, and visited Capitol Hill in Washington, D.C. He acknowledged that Tether has been under intense scrutiny from the U.S. Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), and the New York Department of Financial Services (NYDFS), reaching settlements with the CFTC and NYDFS in 2021. Tether's USDT stablecoin currently holds over 60% of the market share, with a total market capitalization of $143 billion, significantly surpassing its U.S. competitor Circle, which has a market cap of $58 billion for its USDC. In 2024, Tether reported a profit of $13 billion and continues to invest in artificial intelligence, education, and the tokenization of real-world assets. Despite being headquartered in El Salvador, Tether maintains strong ties with the United States, holding nearly $100 billion in U.S. Treasury bonds, making it one of the top 20 holders globally. Additionally, Tether collaborates with the FBI and the U.S. Secret Service to combat crypto-related crimes and has invested $775 million in the right-wing social platform Rumble, with plans to integrate USDT payment functionality. At the conference, Ardoino expressed optimism about Tether's future and reiterated the importance of stablecoins in maintaining the U.S. dollar's global dominance, aligning with the latest policy direction from the U.S. Treasury Department.