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The head of Tether said that the company "went through hell"
Paolo Ardoino, head of the Tether stablecoin company, spoke at the Cantor Fitzgerald Global Technology conference in New York, where he spoke about the company's interaction with the US authorities and its role in the global financial market.
"We've been through hell. I was told that if I came to the United States, I would be arrested immediately. But we are still here," Ardoino said, commenting on the pressure from regulators. He stressed that this is his first trip to the United States.
Tether remains one of the largest holders of U.S. government debt, holding almost $100 billion in treasury bonds. According to Ardoino, if the company were a government, it would be among the top 20 largest holders of U.S. government debt.
"Tether is the last stronghold for the US dollar. We will help the United States to prevent a new antagonistic push from the other side," he said. Earlier, US Treasury Secretary Scott Bessant said at a summit at the White House that stablecoins play a key role in maintaining dominance.