Tether's initiative to issue a new U.S. stablecoin could be realized by early 2026, company CEO Paolo Ardoino said in an interview with CNBC . ”American stablecoin will be different from international. It depends on the timing of the final legislation, but we expect to [launch] by the end of the year or early next year at best,” he said. Ardoino emphasized Tether's commitment to working with regulators and law enforcement: ”There is no other company, even in the traditional financial system, that has as much cooperation with law enforcement. We're always trying to do better and more to block criminal activity. Our tools are much better than the traditional financial system, and we prove it every day. Experts at the Atlantic Council think tank noted that laws being drafted in the U.S. for stablecoins contain favorable provisions for Tether, in particular the ability to operate in the country if it cooperates with authorities. According to NYT , Ardoino has met with lawmakers on multiple occasions and may have influenced their perceptions of the necessary requirements. The head of Tether also commented on the recent partnership with Cantor Fitzgerald. Until recently, the head of the firm was Howard Lutnick, who took over as U.S. Secretary of Commerce. The post of Cantor chairman went to his son Brandon Lutnick. Ardoino said he does not communicate with Minister Lutnick - there are ”appropriate barriers” to prevent conflicts of interest. ”We have great relationships with many people in the United States and now in Washington,” the entrepreneur added. USDT ban in US 'doesn't bother' Tether In case of non-compliance of USDT with stablecoin regulations in the US, Tether will issue a new asset specifically for the US market. Company CEO Paolo Ardoino told Decrypt. ”We think [USDT] is ideal for emerging markets, but we can create a payment stablecoin that works in the U.S.,” he said. Two competing bills for ”stablecoins” are pending in Congress - the STABLE Act and the GENIUS Act. Both involve special requirements for foreign issuers, including El Salvador-registered Tether. Ardoino said he is more interested in emerging markets, where USDT plays a significant role. U.S. legislation worries the entrepreneur to a lesser extent: ”We don't think there's anything particularly problematic [in the stablcoin legislation].” Additionally, Ardoino believes USDT will continue to be traded on the secondary market - in its current form, the GENIUS legislative restrictions relate to the direct sale of the asset to U.S. citizens, STABLE prohibits trading for custodial intermediaries like Coinbase two years after enactment. Tether's first quarter operating profit exceeds $1 billion At the end of January-March, Tether generated an operating profit of $1 billion from traditional investments. This estimate is contained in a commentary on the issuer's attestation report stablecoin USDT. The result provided a boost to the value of US government bonds, while the positive revaluation of gold almost offset bitcoin's volatility, the paper said. USDT supply increased by ~$7 billion to $143.68 billion, while the number of user wallets increased by 46 million. The amount of risk on US Treasuries approached $120 billion. The figure includes indirect holdings of securities through money market funds and reverse repurchase agreements. Direct investment in U.S. Treasuries reached $98.5 billion. Excess stablecoin reserves totaled $5.59 billion.The decline relative to the year-end 2024 valuation ($7.09 billion) was impacted by a $2.35 billion dividend payment. Tether recalled investing ”over $2 billion” in ”long-term initiatives” in renewable energy, AI, peer-to-peer communications and data infrastructure. The report was verified by the independent audit firm BDO. The latter confirmed the accuracy of USDT's financials and reserves. January-March was Tether's first financial period ”under the supervision of a regulator in El Salvador,” where its new headquarters are located.
