Tether CEO Paolo Ardoino has announced the launch of a new product by the USDT stablecoin issuer. The businessman said that the service being developed will become one of the key components of the company's “futuristic ecosystem,” writes incrypted.
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What is known
According to Ardoino, the product will use open source code. However, he did not go into details or name any timeframes for the launch of the service.
Users of the social network X (formerly Twitter) made several assumptions about the project under development. Some community members stated that the announcement may be connected with the Holepunch company. Another part of the community representatives started talking about cooperation between the Lightning Network and the USDT issuer.
There was also some criticism of Paolo Ardoino and Tether. Some users believe that the company should “just print” stablecoins and “pump” Bitcoin. According to critics, this is the only practical use for USDT.
In addition to the announcement of the new product, the head of Tether also announced significant shifts in the political plane of the United States. Ardoino emphasized that the US presidential candidate “finally recognizes the importance of stablecoins” and the need to create a regulatory framework for this asset class.
Obviously, Tether CEO was referring to the speech of politician Donald Trump at the Bitcoin 2024 conference. In his speech, he once again expressed support for the crypto asset industry and promised to create a “strategic national reserve of the first cryptocurrency.”
Paolo Ardoino is confident that recognizing Bitcoin as a “significant source of wealth” will make it possible to realize the right to financial freedom for users.
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