Tether denies rumors of creating its own blockchain: statement by Paolo Ardoino
The cryptocurrency market has once again been stirred by news of a potential launch of Tether's own infrastructure. However, the company's CEO, Paolo Ardoino, was quick to set the record straight, categorically denying such speculations. In his statement, he emphasized that the issuer of the largest stablecoin, USDT, is not developing and does not plan to develop its own network.
The trigger for the discussion was an analytical report from the reputable platform CoinMarketCap, in which Tether was mistakenly included among blockchain protocol developers. This error sparked a wave of speculation in the community, but Ardoino's reaction was immediate and unequivocal. After his public response, the study's authors promptly made corrections, eliminating the inaccuracy.
Tether's strategic course remains unchanged: the company focuses on issuing and maintaining USDT liquidity, as well as developing related financial products, such as investments in Bitcoin and gold. Refusing to create its own blockchain appears to be a quite rational step, given the vast network of existing integrations with leading networks, including Ethereum, Tron, and Solana.
Such incidents highlight the importance of data verification in an industry where misinformation can lead to short-term market fluctuations. To me, it is obvious that Tether seeks to maintain neutrality and infrastructural flexibility, preferring to remain an issuer rather than a competitor to blockchain platforms. This is a sensible strategy that allows avoiding excessive bureaucratization and keeping focus on the core business model.