Tether CEO Paolo Ardoino has acquired a record number of assets, including $100 billion in U.S. Treasury securities, more than 82,000 Bitcoins worth approximately $5.5 billion, and 48 tons of premium-grade gold. The amount of reserves held was disclosed.
Ardoino’s comments, which he made at the PlanB Forum in Lugano, Switzerland, renewed public scrutiny of stablecoin giants following a Wall Street Journal report that suggested a possible investigation by U.S. authorities. It was released amid rising demand. The report claimed that the Justice Department and Treasury Department were investigating possible violations of anti-money laundering regulations and sanctions.
Mr. Ardoino did not take long to refute these claims, passionately claiming that no such investigation was taking place. He said Tether maintains regular and direct communication with law enforcement agencies to prevent USDT from being misused by bad actors.
Ardoino also reiterated that since 2014, the company has helped recover approximately $109 million related to fraud, sanctions evasion, and cybercrime.
Such an expansion makes a lot of sense for Tether given the company’s unprecedented growth. USDT’s market capitalization skyrocketed to a staggering $120 billion in October 2024, showing that market confidence is very strong despite increased regulatory scrutiny.
