Tether CEO Paolo Ardoino revealed that the company currently has no plans for an IPO. He further explained why he doesn’t think his company needs to go public anytime soon. Interestingly, his explanation echoed the sentiments of Ripple CEO Brad Garlinghouse, as Garlinghouse also recently revealed that his company has no plans to go public, at least not yet. .
Paolo Ardoino reveals that Tether will not be made public for now
FOX journalist Eleanor Terret revealed on XPost that Tether CEO has confirmed that there are currently no plans for an IPO from the stablecoin issuer. Paolo Ardoino said he believes going public would undermine his company’s ability to move quickly and force it to continue “challenging the status quo.”
He believes companies should only go public if they need access to capital and liquidity, but given that Tether has made $12 billion in profits over the past two years There is no shortage of them, he added.
For context, stablecoin issuers are more profitable than Wall Street giants like BlackRock, the world’s largest asset manager. So it’s understandable that Tether and its CEO Paolo Ardoino don’t feel the need to go public.
Instead, the company appears to be more focused on expanding its business operations. CoinGape recently reported that Tether has proposed tokenizing Boron to Türkiye. In addition, stablecoin issuers are also considering commodity financing and other financial services.
Meanwhile, as Terrett pointed out, Ardoino’s statement about why Tether doesn’t need to go public is similar to what Ripple CEO Brad Garlinghouse said about why his company doesn’t intend to go public anytime soon. resemble. While Ripple’s CEO was clear about the possibility of an IPO, he said the company has a strong balance sheet and therefore does not see a need to go public for the time being.
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Boluwatife Adeyemi
Boluwatife Adeyemi is an experienced cryptocurrency news writer and editor who has covered topics spanning DeFi, NFTs, smart contracts, blockchain interoperability, and more, among others. Boluwatife has a knack for simplifying the most technical concepts and making them easier for crypto beginners to understand. Outside of writing, he is an avid basketball fan and part-time enthusiast.
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