Odd Lots Tether's CEO Speaks on His Insanely Profitable Business
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Apr 7, 2025 
Paolo Ardoino, CEO of Tether, has played a crucial role in the rise of the stablecoin USDT, transforming it into a financial powerhouse. In this insightful conversation, he dives into how Tether has thrived amid skepticism, boasting significant profitability and substantial U.S. Treasury holdings. Ardoino discusses regulatory challenges, the need for transparency, and Tether's unique auditing strategy. He also highlights innovative projects like solar-powered kiosks in Africa, illustrating how stablecoins can uplift local communities while navigating the complex crypto landscape.
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Tether's Resilience in 2022
- Tether successfully handled $7 billion in redemptions within 48 hours and $20 billion within 25 days during a market attack in 2022.
- This demonstrated their resilience and liquidity, handling a 10% bank run with ease, unlike many traditional banks.
Stablecoin Target Market
- Stablecoins primarily target emerging markets, not U.S. institutions.
- Tether focuses on users in countries with volatile currencies, where a 4% yield difference is less significant than the intraday volatility of their national currency.
Tether's Investment in Africa
- Tether invests in kiosks with solar panels in African villages, providing batteries for 3 USDT per month.
- This initiative aims to provide electricity to 60 million people in Africa by 2030, increasing US dollar adoption.