Tether, the world’s largest stablecoin issuer, is considering expanding its presence in the United States as Donald Trump’s presidential inauguration approaches. This strategic move comes as Tether reports a remarkable $10 billion in net profits for 2024.
Tether’s US ambitions
On Thursday, Tether CEO Paolo Ardoino stated in an interview that the combination of a potentially improved regulatory landscape under Trump and Tether’s recent $775 million investment in Rumble, a U.S.-listed video-sharing platform, presents “a good opportunity to start looking at the U.S. environment and how it will change.”
While Tether operates partially in Europe, it faces potential challenges due to the EU’s Markets in Crypto-Assets (MiCA) regulations, which have raised concerns about the transparency of Tether’s USDT reserves and its compliance with global standards. Although no official action has been taken by EU regulators to delist Tether, Ardoino expressed optimism about the company’s prospects in the U.S.
“I don’t rule out Tether’s further entry into the U.S. market, but we are cautious,” Ardoino said. “We need regulatory clarity and guidance. We need to see what U.S. law looks like before making a decision.”
Moreover, Ardoino recenlty took to X to applaud Missouri Attorney General Andrew Bailey’s landmark regulation that mandates Big Tech companies to provide users with the ability to choose alternative algorithms for their social media feeds.
Very good https://t.co/M5oajt8PuO
— Paolo Ardoino 🤖🍐 (@paoloardoino) January 16, 2025
Ardoino added that the step will help in restoring freedom of speech for social media users.
European Operations and Regulatory Challenges for Tether
In Europe, Tether has faced scrutiny, with leading exchange Coinbase delisting USDT, citing anticipated regulatory action under MiCA. However, major exchanges like Binance and Crypto.com continue to offer USDT to European users, awaiting clear regulatory guidance before taking further steps.
The Trump Effect on Crypto Markets
Donald Trump’s victory in the U.S. presidential election has provided a boost to both the crypto market and global markets. His campaign promise to position America as the crypto capital of the world has resonated with the industry and enthusiasts, driving Bitcoin to an all-time high of $106,000.
Although 2025 began sluggishly for cryptocurrencies, Bitcoin has regained momentum as Trump’s January 20 inauguration nears. The leading cryptocurrency is currently trading at approximately $101,000.
Also Read: Tether Adds $700M Bitcoin to BTC Reserve, What’s The Scoop?
