Tether CEO responds head-on to accusations about the company's ability to repay debt and the stability of its stablecoin

Tether CEO Paolo Ardoino responded to Deutsche Bank analysts’ questions about his company’s ability to repay debt and the stability of its USDT stablecoin.

Ardoino responded to the latest comments from Deutsche Bank analysts on his X account, arguing that the financial institution has its own problems and therefore has no right to point fingers or criticize others.

Tether CEO Paolo Ardoino highlighted Deutsche Bank’s history of fines and sanctions for breaches, raising questions about its qualifications to criticize others in the industry. He also mentioned that the International Monetary Fund (IMF) once rated Deutsche Bank as the most dangerous bank in the world.

Tether CEO Paolo Ardoino said:

“Deutsche Bank’s own history of repeated fines and penalties for non-compliance raises questions about whether it is qualified to judge the rest of the industry.”

In a comment on the post, a reader pointed out that Deutsche Bank has paid more than $20 billion in fines for 99 violations since 2000. Therefore, the bank should not criticize other companies for risk management, product structure or regulatory issues.

Earlier, Deutsche Bank’s expert team released the results of its research on the stablecoin market. Analysts have pointed to weaknesses in the asset class and cited the opacity of Tether as the issuer of the USDT stablecoin.

Deutsche Bank analysts further pointed out that given Tether’s monopoly in the stablecoin market, if USDT collapses, the consequences will lead to a more serious impact.

The total market capitalization of stablecoins now exceeds $160 billion, according to DefiLlama. USDT is the undisputed leader in this market, with over 69% market share.

Source: DefiLlama

However, experts have warned that Tether’s dominance could be eroded as new U.S. regulations are introduced.

The above is the detailed content of Tether CEO responds head-on to accusations about the company's ability to repay debt and the stability of its stablecoin. For more information, please follow other related articles on the PHP Chinese website!