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Trump’s Return Could Nudge Tether Toward US Expansion, Says CEO Paulo Ardoino

Published
Kurt Robson
Published
By Kurt Robson
Edited by Insha Zia
Key Takeaways
  • President-elect Donald Trump’s return to office could lead stablecoin issuer Tether to gain more of a presence in the U.S.
  • Tether CEO Paulo Ardoino said it marked a “great opportunity to start looking at the U.S. environment.”
  • The crypto industry is set to gain a major boost after Trump takes office on Jan. 20.

Tether CEO Paolo Ardoino says the company may explore further expansion in the U.S. as President-elect Donald Trump takes office, but it is remaining cautious to see how the regulatory landscape will develop.

The comments come as Tether, the world’s largest stablecoin issuer, announced a relocation of its global headquarters to El Salvador following record-breaking profits, which industry observers suggest could be to dodge regulatory scrutiny in America.

Tether Considering U.S. Expansion

In an interview  with Bloomberg TV on Jan. 16, Ardonio said the idea of an improved environment for crypto companies in the U.S. was attractive.

The Tether CEO said Trump’s return was a “great opportunity to start looking at the U.S. environment and how it will change.”

However, Ardonio cautioned that while he couldn’t exclude Tether “moving a bit more toward some US presence,” they would be doing so in “a cautious way.”

“For the moment, we need regulatory clarity and guidance,” Ardonio said. “We need to see what the laws are looking like coming from the US, and then we will decide.”

In October, during a talk at DC Fintech Week, Ardonio said the U.S. had been a technology leader in “every single field.”

The Tether CEO claimed this was the first time he had seen “the U.S dropping the ball.”

Tether’s Ties to El Salvador

On Jan. 13, Tether confirmed its plans to transfer its headquarters and subsidiaries to El Salvador.

The company said the move aligned with the country’s forward-thinking policies.

Ardonio claimed El Salvador represented “a beacon of innovation in the digital assets space.”

“By rooting ourselves here, we are not only aligning with a country that shares our vision regarding financial freedom, innovation, and resilience but also reinforcing our commitment to empowering people worldwide through decentralized technologies,” Ardonio said.

However, some critics suggested Tether’s move further highlighted the company’s reluctance to face a third-party audit.

Throughout the Biden Administration, U.S. agencies imposed strict compliance and transparency requirements. Stablecoin issuers like Tether were subject to these agencies’ stringent oversight.

Trump’s Crypto America

The crypto community has been excited about Trump’s upcoming term. The President-elect has made some wide-ranging promises that will likely heavily boost the industry.

Trump is reportedly set to sign a day-one executive order designating crypto as a national priority, meaning regulatory agencies would be forced to work in favor of digital assets.

According to Bloomberg, the order may also involve a crypto council that advocates for the industry’s goals and wants.

Trump has also appointed a series of crypto-friendly officials, including Paul Atkins for SEC Chair and David Sacks as AI and crypto czar.

Following years of the industry fighting legal battles with the U.S. government, this change alone will likely result in fewer lawsuits filed against crypto companies.

Other officials chosen by Trump are also advocates of crypto. Trump’s choice for Secretary of Commerce, Howard Lutnick, has regularly defended Bitcoin.

Scott Bessent, a billionaire investor who has chosen to be the Treasury Secretary, has also been vocal about crypto.

Talking to Fox News in July, Bessent said: “Crypto is about freedom, and the crypto economy is here to stay.”

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Kurt Robson

Kurt Robson is a London-based reporter at CCN with a diverse background across several prominent news outlets. Having transitioned into the world of technology journalism several years ago, Kurt has developed a keen fascination with all things AI. Kurt’s reporting blends a passion for innovation with a commitment to delivering insightful, accurate and engaging stories on the cutting edge of technology.
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