FYI - For Your Innovation Private Money Rises: Tether, Bitcoin, And The Genius Act
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Aug 7, 2025 
Paolo Ardoino, CEO of Tether, and economist Arthur Laffer dive into the dynamic world of stablecoins and their transformative potential. They explore USDT's rise as a financial lifeline in emerging markets and the mechanics behind its stability. Laffer shares insights on the history of private money and the changing landscape of U.S. monetary policy, while both discuss the critical need for transparency and trust in the crypto space. The conversation also touches on future trends, regulatory shifts, and the role of stablecoins in reshaping local economies.
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Tether's Origin Story
- Paolo Ardoino shared how USDT started in 2014 to move digital dollars quickly across exchanges.
- Initially, it facilitated arbitrage when moving traditional dollars internationally was slow and costly.
Stablecoins as Modern Private Money
- Dr. Arthur Laffer explained the U.S. had a private money system with stable value before 1913.
- He views stablecoins as a modern return to private money needing a stable value mechanism.
How USDT Issuance Works
- Paolo Ardoino detailed the issuance and redemption process of USDT with strict KYC/AML.
- This ensures the digital dollar tokens are backed 1:1 by actual dollar reserves.