- Tether has almost reached $120 billion in U.S. Treasuries in an effort to regain trust after years of scrutiny and controversy.
- CEO Ardoino continues his efforts to expand in the U.S., keeping the plans of domestic stablecoin as the crypto industry faces easier regulations.
- Tether’s alliance with Cantor Fitzgerald and prominent meetings highlight its bold repositioning as a major player in finance.
Tether, the stablecoin giant worldwide, is gaining trust with its U.S. Treasuries reaching the $120 billion mark. The latest attestation successfully verified the company really stands with a commitment of nearly $120 billion in Treasuries that is managed by Cantor Fitzgerald. As the company regains its trust, now the question arises whether it will become the universal stablecoin without any legal troubles.
Looking at the first quarter of 2025, Tether’s assets and reserves debts cross by around $5.6 billion, as per the company’s latest audit. This figure still remains below $7 billion, as reported in December 2023. However, it’s huge by means of substantial excess equity. Backing the company reserves, CEO Paolo Ardoino forced that these reserves are much stronger than ever with the help of collaborations including Wall Street entities.
Tether’s partnership with U.S. Commerce Secretary Howard Lutnick’s sons is also drawing notice. Ardoino dispelled speculation about having good relations in the U.S., however, stating he has no direct contact with Secretary Lutnick due to necessary boundaries in case of potential conflict of interest.
Tether Expands U.S. Presence Amid Regulatory Push
Other than adding to its reserves, Tether is getting ready to release a U.S.-regulated stablecoin. The team behind Tether also conveyed this project at the Token2049 conference in Dubai, stating that it could come to life before 2025 or in the first quarter of 2026. This local stablecoin of the company would be like no other USDT offered internationally by Tether. It would be aimed at the U.S. market specifically.
Ardoino’s recent visit to Washington have attracted much attention. The CEO also had private conversations with congressmen and was present at events where he had the chance to meet Senator Bill Hagerty. The outreach of the CEO aligns with the country’s regulations that have become lenient to the cryptocurrency industry, especially during Trump’s tenure.
This rise in visibility greatly influences the legislative conversation, especially now that the GENIUS Act, which is a Republican-backed bill, is in the center of the debate. The opponents of the law emphasize that the act provides benefits only for overseas issuers such as Tether, who can secure a legal provision to operate in the U.S. provided they aid law enforcement.
Past Scrutiny and New Strategies
Irrespective of its solid finances, Tether has not erased its regulatory background. In 2021, the company accepted the overestimated reserves claim of the New York state attorney and paid $18.5 million. Nevertheless, Tether’s target now is to reveal everything behind its assets, and currently it is issuing regular attestation reports.
“There is no company… even in the traditional financial system, that has such a breadth of collaboration with law enforcement. We have much better tools,” said Ardoino.
Moreover, the competition is shifting with time. The announcement that WLF World Liberty Financial would be launching a US dollar-backed stablecoin, with Eric Trump and Donald Trump Jr. leading the charge, witnessed a major shift in the stablecoin market. As prominent political and business figures get more interested in stablecoins, Tether might face more pressure to maintain its global dominance.
