{"id":40725,"date":"2024-11-04T11:39:49","date_gmt":"2024-11-04T11:39:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tether-ceo-were-not-launching-a-blockchain-as-neutrality-is-very-important-to-us\/"},"modified":"2024-11-04T11:39:49","modified_gmt":"2024-11-04T11:39:49","slug":"tether-ceo-were-not-launching-a-blockchain-as-neutrality-is-very-important-to-us","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tether-ceo-were-not-launching-a-blockchain-as-neutrality-is-very-important-to-us\/","title":{"rendered":"Tether CEO: we\u2019re not launching a blockchain as \u201cneutrality is very important\u201d to us"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/08_copper_crypto-4-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/08_copper_crypto-4-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/08_copper_crypto-4-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/08_copper_crypto-4-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li aria-level=\"1\">Paolo Ardoino said that it\u2019s not launching a Tether chain at the moment because \u201cneutrality is very important\u201d<\/li>\n<li aria-level=\"1\">Tether\u2019s focus right now is partnering with businesses and communities rather than \u201ctrying to centralize everything\u201d<\/li>\n<li aria-level=\"1\">Tether had another record-breaking quarter, resulting in $7.7 billion in profit over nine months<\/li>\n<\/ul>\n<p>The CEO of Tether has ended rumors about a Tether Chain, stating that it\u2019s \u201cnot planning to build an official blockchain at this time.\u201d<\/p>\n<p><a href=\"https:\/\/coinjournal.net\/search\/Paolo+Ardoino\">Paolo Ardoino<\/a> took to <a href=\"https:\/\/x.com\/paoloardoino\/status\/1853154856065765793\" target=\"_blank\" rel=\"noopener\">X<\/a> to post his message, adding that \u201cdifferent independent L2 solutions are working to support $USDt for gas fees.\u201d<\/p>\n<p>In a follow-up <a href=\"https:\/\/x.com\/paoloardoino\/status\/1853157037854646643\">tweet<\/a>, Ardoino explained that one of the main reasons that <a href=\"https:\/\/coinjournal.net\/search\/tether\">Tether<\/a> won\u2019t launch a chain anytime soon is because \u201cneutrality is very important.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">One of the main reasons for which Tether won&#8217;t launch a chain anytime soon is that neutrality is very important.<\/p>\n<p>Unstoppable TogETHER, our motto, underlines our interest to partner up with other companies and communities rather than trying to centralize everything. <a href=\"https:\/\/t.co\/NS27QOY5Wr\">https:\/\/t.co\/NS27QOY5Wr<\/a><\/p>\n<p>\u2014 Paolo Ardoino \ud83e\udd16\ud83c\udf50 (@paoloardoino) <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1853157037854646643?ref_src=twsrc%5Etfw\">November 3, 2024<\/a><\/p>\n<\/blockquote>\n<p>According to Ardoino, the company\u2019s interest lies in teaming up with businesses and communities rather than \u201ctrying to centralize everything.\u201d When asked if Tether is planning to launch a chain in the medium-long term future, Ardoino responded with \u201cdon\u2019t think we will, but still it\u2019s fair to not exclude any possibility.\u201d<\/p>\n<h2>Another impressive quarter<\/h2>\n<p>At the end of October, Tether published its <a href=\"https:\/\/tether.io\/news\/tether-hits-7-7-billion-2024-nine-month-profits-102-5-billion-in-u-s-treasury-holdings-almost-120-billion-usd%e2%82%ae-circulation-and-an-over-6-billion-reserve-buffer-in-q3-2024-attestation\/\" target=\"_blank\" rel=\"noopener\">Attestation Report<\/a> for Q3 2024. Reporting a \u201cstrong performance,\u201d the stablecoin issuer noted that the latest quarter marked another \u201crecord-breaking milestone for Tether\u201d resulting in $7.7 billion in profit over nine months.<\/p>\n<p>Additionally, Tether\u2019s stablecoin issuing companies managing reserves now hold more than $105 billion in cash and cash equivalents, with $102.5 billion in direct and indirect exposures to US treasuries. According to Tether, if it was classified as a country, it would be among the top 18, above Germany, Australia, and the UAE.<\/p>\n<p>Speaking on this, Ardoino said:<\/p>\n<blockquote>\n<p>\u201cReaching the $120 billion USD\u20ae milestone and reporting $102.5 billion in U.S. Treasury exposure highlights the company\u2019s unparalleled financial strength. By increasing our reserve buffer to over $6 billion and maintaining a focus on strategic investments, Tether is once again setting the standard for stability in the financial space.\u201d<\/p>\n<\/blockquote>\n<p>Turning Tether\u2019s attention to Q4 2024, Ardoino said the outlook is \u201cvery positive\u201d with the growth of on-chain wallets per quarter rising to more than 35 million new addresses. For Ardoino, this is significant as the use of Tether is predominantly used in developing countries and emerging markets.<\/p>\n<p>Ardoino claims that while the Western world has talked about boosting financial inclusion in the 21st century, little has been achieved, in what\u2019s called \u201cFinancial Inclusion washing.\u201d<\/p>\n<p>With Tether, Ardoino said, they have created a product \u201cthat truly serves the underserved, the last mile, the normal people, the ones that don\u2019t have access to the tens of different payment options that richer countries have to offer\u2026\u201d<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/tether-ceo-were-not-launching-a-blockchain-as-neutrality-is-very-important-to-us\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Paolo Ardoino said that it\u2019s not launching a Tether chain at the moment because \u201cneutrality is very important\u201d Tether\u2019s focus right now is partnering with businesses and communities rather than \u201ctrying to centralize everything\u201d Tether had another record-breaking quarter, resulting in [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":40726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40725"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=40725"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/40726"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=40725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=40725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=40725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}