Tether CEO, Paolo Ardoino, stated that the company has no plans to build its own blockchain and will focus on neutrality and partnerships instead. Tether has recently expanded its presence by making the USDT stablecoin available on multiple networks, including The Open Network (TON), which already has over $1 billion in USDT holdings.
Tether’s stance is in favor of decentralization and cooperation, and it is currently present on several networks. The USDT stablecoin market capitalization is currently over $118 billion and controls about 75% of the total stablecoin market. However, Tether’s market dominance has brought a lot of criticism and regulatory attention, with some questioning its reserves and potential involvement in money laundering and sanctions violations.
Tether has been accused of manipulating cryptocurrency markets, but the company denies these allegations and claims that USDT issuance is based on market demand and utility. The issue of transparency has been a concern for Tether, with its last full audit conducted in 2021. Despite calls for its own blockchain, Tether management insists on the “Unstoppable TogETHER” motto, focusing on collaboration with other projects rather than building a centralized platform.
