Tether is confident in the “simple” adaptation to the rules for the circulation of stablecoins in the United States and does not agree with the conclusions of JPMorgan analysts about the need to sell bitcoins. This Block said this by the USDT issuer Paolo Ardoino.
On February 13, the bank experts said that the company will face the need to sell bitcoins to comply with US law.
Currently, Tether owns 83,758 BTC (~ $ 8.04 billion).
The conclusions of experts are based on the law on the transparency and accountability of stablecoins proposed in the House of Representatives for the best economy based on stable (Stable) and the law on the leadership and creation of national innovations for American “stable coins” (Genius) in the Senate.
Documents suggest the use of US Treasuries and other liquid and reliable assets. Only 66% -83% of USDT reserves according to JPMorgan corresponds to these criteria.
In addition to the first cryptocurrency, Tether may have to get rid of gold, corporate bonds and wealthy loans.
According to Ardoino, “harmful” analysts did not take into account the capital of the company.
Ardoino refrained from a direct answer to the question about the need to sell digital gold.
JPM Analysts Are Salty BecAuse They Donmet Own Bitcoin.
– Paolo Ardoino 🤖🍐 (@paoloardoino) February 13, 2025
CEO of the company explained that the organization “carefully monitors the development of legislative initiatives and interacts with regulators.”
In 2023, Tether announced regular investments in the first cryptocurrency.
In February 2024, the company announced plans to create an AI application for Bitcoin-Kshtelki.
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Source: Cryptocurrency
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