|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Ripple Executive Dismisses The Allegation Of Spreading FUD Around Tether (USDT) - Bitcoinik
May 15, 2024 at 11:22 am
Ripple CEO Brad Garlinghouse clarifies his previous statement about Tether (USDT), emphasizing that he was not spreading misinformation but expressing his belief based on the current regulatory landscape. Garlinghouse acknowledges Tether's importance within the crypto ecosystem while reiterating that US regulators aim to increase control over stablecoin issuers, potentially including Tether.
Ripple CEO Brad Garlinghouse Clarifies Comments on Tether Stablecoin
San Francisco, California - Brad Garlinghouse, the CEO of the cryptocurrency company Ripple, has clarified his recent comments regarding the Tether stablecoin. In a statement released today, Garlinghouse refuted allegations that he intended to spread misinformation about Tether and reiterated his belief that the stablecoin is a significant player in the cryptocurrency industry.
"My intention was not to spread any kind of fud about Tether stablecoin," Garlinghouse stated. "Instead, I was trying to express my opinion on the current regulatory landscape, which I believe poses potential risks to stablecoin issuers like Tether."
Garlinghouse's initial comments, made during an interview, suggested that the US financial regulators might target Tether, citing the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC). In response, Tether CEO Paolo Ardoino accused Garlinghouse of spreading inaccuracies and attempting to undermine confidence in USDT stablecoin users.
In his clarification, Garlinghouse emphasized that he did not intend to attack Tether but rather to highlight the potential regulatory risks facing the cryptocurrency industry. He reiterated his view that Tether plays a vital role in the ecosystem, providing liquidity and stability to the market.
"I wasn't attacking Tether... the next words out of my mouth during the podcast were that I view Tether as a hugely important part of the ecosystem," Garlinghouse tweeted on May 13, 2024.
Garlinghouse's clarification comes amid ongoing regulatory scrutiny of the cryptocurrency industry. The SEC has been actively pursuing legal action against several high-profile crypto companies, including Ripple and the crypto exchange Robinhood. The recent issuance of a Wells Notice to Robinhood has raised concerns that the SEC may be preparing to file a lawsuit against the platform for allegedly providing unregistered crypto securities trading services.
Experts believe that the SEC's aggressive enforcement actions may extend to other crypto companies, particularly those that issue stablecoins or offer crypto-related services. Garlinghouse's comments on Tether underscore the importance of regulatory compliance for companies operating in the cryptocurrency industry.
"The US government has clearly indicated that they want more control over USD-backed stablecoin issuers," Garlinghouse said. "And thus, Tether, as one of the largest stablecoins, may face regulatory scrutiny."
While the regulatory landscape remains uncertain, the cryptocurrency industry continues to evolve rapidly. The role of stablecoins in providing stability and liquidity to the market is expected to remain significant, but companies may need to adapt their operations to meet regulatory requirements.
Ripple, which has been embroiled in its own legal battle with the SEC, has maintained its belief in the potential of blockchain technology and the broader cryptocurrency ecosystem. Garlinghouse's clarification on Tether reflects the company's commitment to fostering dialogue and transparency while navigating the evolving regulatory environment.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Algotech (ALGT): AI Revolutionizes DeFi Trading, Surpassing Binance Coin (BNB) and Bonk Coin (BONK) in ICO Landscape
- Jun 01, 2024 at 07:00 pm
- The world of Initial Coin Offerings (ICOs) is a constantly evolving battleground, where innovative startups clash with established giants in a bid to
-
- 10 things to know about North Carolina's banks and credit unions
- Jun 01, 2024 at 06:47 pm
- Business North Carolina’s annual list of the state’s 50 biggest banks and credit unions is out. Here are 10 things to know about North Carolina’s bank
-
- KangaMoon (KANG) Introduces a Novel Approach to Cryptocurrency Engagement
- Jun 01, 2024 at 06:47 pm
- Chiliz (CHZ) has seen a 26% price increase in the past week, fueled by overall enthusiasm in the growth of its ecosystem. During this time, the Chiliz
-
- BitMart Exchange Announces Strategic Partnership to Support the Tezos Blockchain
- Jun 01, 2024 at 06:44 pm
- Crypto exchange BitMart has announced a new partnership to support the Tezos blockchain, a prominent Proof of Stake (PoS) blockchain known for its sel
-
- Rollblock (RBLK): The Top Crypto To Buy For Massive Gains In 2024
- Jun 01, 2024 at 06:44 pm
- Investors are fleeing Cardano (ADA) and Polygon (MATIC) for a new coin called Rollblock (RBLK). Here's why. The cryptocurrency market has seen a major
-
- KangaMoon (KANG) and Core (CORE) Prepare to Head to the Moon as the Crypto Market Enters the Bull Season
- Jun 01, 2024 at 06:42 pm
- The crypto market is preparing for an exciting bull season with the recent approval of the Ethereum ETF. As analysts anticipate the rally, top altcoin
-
- Bitcoin's 2024 Catalysts May Seem a Thing of the Past, But Programmers Are Fueling Future Upside From Behind the Scenes
- Jun 01, 2024 at 06:37 pm
- Bitcoin's upcoming catalysts for 2024 may be in the past, but behind the scenes, programmers are preparing future upside for the top cryptocurrency. F
-
- Penguiana Doubles Market Cap to $2.5 Million, Unveils GUIANA NFT Mint Details
- Jun 01, 2024 at 06:30 pm
- Solana-based meme coin Penguiana continues to charm the crypto space, reaching a new height as its market cap doubles to over $2.5 million, according
-
- DigiFinex Review 2023: Exploring the Platform’s Features
- Jun 01, 2024 at 06:30 pm
- Launched in 2017, DigiFinex is a cryptocurrency exchange that offers a wide range of features and services. It is a popular exchange among traders and