Bloomberg Talks Tether CEO Paolo Ardoino Talks Stablecoins, GENIUS Act
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May 23, 2025 
Paolo Ardoino, CEO of Tether and a key player in the stablecoin sector, dives into the future of digital currencies. He discusses the GENIUS Act and its potential to foster growth in stablecoins, particularly in the evolving regulatory landscape of the U.S. and Europe. Ardoino highlights how USDT has become essential for emerging markets, especially during currency crises. He also shares Tether's ambitions to expand beyond stablecoins into strategic investments, aiming to innovate within the financial sector like Berkshire Hathaway.
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Stablecoins Aid Underbanked Markets
- Stablecoins like USDT are crucial for emerging markets where over 3 billion people are underbanked.
- Digital U.S. dollars serve as a stable financial tool for savings and transactions outside traditional banking.
GENIUS Act Favored Over MECA
- The GENIUS Act is preferable over MECA for reserve requirements, favoring U.S. treasuries over uninsured deposits.
- Lessons from Silicon Valley Bank highlight risks of uninsured cash deposits in stablecoin reserves.
USDT as Savings in Crisis Countries
- In countries like Turkey and Argentina, USDT serves as a savings and payment tool amid severe local currency depreciation.
- USDT has grown to over 420 million users mainly in developing and emerging markets as a stable financial asset.