Tether the largest stablecoin issuer plans to introduce a dollar-pegged stablecoin in the United States during late 2025 or early 2026 according to CEO Paolo Ardoino during his appearance at Token2049 in Dubai. The development of this stablecoin supports Ardoino’s Washington lobbying efforts which include his meetings with lawmakers and Senator Bill Hagerty as President Trump shows support for crypto. The GOP-backed GENIUS Act which critics say benefits foreign issuers such as Tether demonstrates this influence.
Tether operates from El Salvador while emphasizing its cooperation with law enforcement through superior anti-crime tools than traditional financial systems according to Ardoino. Tether resolved its misleading reserve claims issue in 2021 by paying $18.5 million but now holds $120 billion in U.S. Treasuries through Cantor Fitzgerald while maintaining $7 billion in excess equity. The Q1 audit revealed that Tether possessed $5.6 billion in surplus assets.
The connection between Tether and Cantor raises questions because the company is led by Commerce Secretary Howard Lutnick’s sons although Ardoino mentioned conflict-of-interest restrictions. Tether continues its U.S. market expansion while making political moves to maintain its position as market leader during the current regulatory changes.
