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Ripple CEO Denies "Attacking" Tether

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Mon, 13/05/2024 - 15:58
Ripple CEO Denies "Attacking" Tether
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In a recent post on the X social media network, Ripple CEO Brad Garlinghouse denied attacking Tether, the largest stablecoin issuer. 

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Prior to that, he claimed that it was "clear" to him that the US government was going after Tether during a recent podcast appearance. 

Garlinghouse stressed that he had mentioned the importance of Tether for the broader cryptocurrency ecosystem during that podcast. "The next words out of my mouth during the podcast were that I view Tether as a hugely important part of the ecosystem," he said in the aforementioned social media post. 

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The Ripple executive went on to clarify his controversial statement, arguing that the U.S. government wants more control over dollar-backed stablecoins, which is why he assumed that Tether had appeared among their targets."My point was that the US govt has clearly indicated they want more control over USD-backed stablecoin issuers, and thus, Tether, as the largest player, is in their line of sight," Garlinghouse added. 

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As reported by U.Today, Garlinghouse's controversial comment did not go unnoticed by Tether CEO Paolo Ardoino. The former described the Ripple boss as "uninformed" while recalling Ripple's own legal troubles in the US. Moreover, he recalled that Garlinghouse's company could be on track to launch its own competing stablecoin, implying that this could be the reason behind the apparent attack. 

It now seems like Garlinghouse is willing to bury the hatchet based on his recent post. Ardoino has yet to reply to the latest comment made by the Ripple CEO. 

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