The Stablecoin King | Tether CEO Paolo Ardoino on GENIUS Act, Circle IPO, Bitcoin & Tether to Trillions
Episode publishedPodcast: BanklessBankless
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Last year, we made 13,700,000,000.0 in in profits. And this year, I think we are going to beat that.
Third wait. 13,700,000,000.0 in profits?
Last year. And this year, I think we are we can do a little bit better. Welcome
to Bankless, where we explore the frontier of stablecoin finance. This is Ryan Sean Adams. I'm here with David Hoffman, and we're here to help you become more bankless. Guys, there's a Game of Thrones going on right now. It's a a stablecoin war of sorts. Tether is the undisputed number one lead of stablecoins right now. So I guess that makes our next guest, Paolo Ardonio, who's its CEO, the stablecoin king. And I gotta say, for a king, he's pretty unassuming, but he has ambitious plans for the continued distribution and dominance of Tether. And that's going to be important in this new era, an
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Thank you for having me, guys. I
just wanna get your first reaction to the passing of the, the Genius Act. It still has some work left to do. It has to go back to the House, but people are more than cautiously optimistic. I would say Donald Trump sent out that tweet saying, guys, I just want to approve this thing. House, just get it done. Let's get this done. What was your first reaction to the Genius Act passing in the senate?
For us is as, you know, Tether is the creator of the stablecoin industry in 02/2014. We are very honored that, the most powerful country in the world, the most powerful government in the world is is is taking good care of, a technology or legislating on a technology that we created eleven years ago. So that is very exciting. I think that GeniusDuty is a step in the right direction. It creates a framework. Well, of course, as you said, it it still needs to be passed by a house, but seems that there seems there is a good momentum. So it creates a strong framework for domestic stablecoins as well
Assuming the, Genius Act gets passed as it stands today, what opens what doors open for for Tether downstream of that? Like, what happens next? What's your guys' strategy post Genius Act getting approved? And, also, is there anything in the Genius Act or not in the Genius Act that you would have liked to have seen? Like, what what's your biggest what would be your biggest amendment to the Genius Act, if if any?
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