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Paolo Ardoino, CEO of Tether, is scheduled to speak Tuesday at the DC Fintech Week conference at Fannie Mae headquarters in Washington, DC.
Tether is the company behind the largest stablecoin, USDT, which is pegged to the US dollar. It is the third largest cryptocurrency by market capitalization, according to CoinMarketCap. USDT represents approximately 71% of the US dollar-backed stablecoin market, with a market capitalization of approximately $120 billion, according to CryptoQuant.
Tether has been criticized for its lack of transparency, while USDT has been criticized for its alleged use by criminals. Nonetheless, it remains the most popular and easily accessible stablecoin due to its ubiquity on global exchanges.
Ardoino’s remarks come as stablecoins become increasingly important to institutions. While the United States has been slow to implement clear rules for stablecoin operators and industry partners, European regulation of crypto-asset markets will come into full force by the end of this year, which which could have big implications for Tether.
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