Ripple CEO Brad Garlinghouse has shared the same photo with Tether CEO Paolo Ardoino.
The two highly influential cryptocurrency executives recently took part in the launch of the Commodity Futures Trading Commission's new collateral and stablecoin initiative alongside some other industry bigwigs, including Crypto.com CEO Kris Marszalek.
"It’s the killer app to modernize markets and make dollars work smarter and go further, unleashing U.S. economic growth by lowering costs," CFTC head Caroline Pham said in a social media statement.
Crypto feud
As reported by U.Today, Garlinghouse sparked a short-lived feud with Ardoino after stating that Tether could be crypto's next "black swan event," arguing that the U.S. government is currently going after the leading stablecoin issuer.
The Tether boss then snapped back at Garlinghouse, arguing that the former was "an informed CEO" whose company was actually under an investigation by the U.S. Securities and Exchange Commission. Back then, Garlinghouse was also harshly criticized by Bitcoin maximalist Samson Mow for spreading "fear, uncertainty, and doubt" (FUD) about Tether.
Garlinghouse subsequently denied attacking the leading stablecoin issuer, stressing that he viewed Tether as a hugely important player within the cryptocurrency ecosystem.
Growing rivalry
As reported by U.Today, Tether, the world's largest stablecoin issuer, recently announced a new US-regulated stablecoin dubbed "USAT."
The stablecoin will surely be competing with Ripple's RLUSD, which was officially introduced last year.
Earlier this week, Bloomberg reported that Tether was raising as much as $20 billion, which could turn it into one of the most valuable private companies globally.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team