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Rumble At The Core: How Tether Plans To Dominate The US Stablecoin Market
Tether, the powerhouse behind the worldās largest stablecoin by trading volume, USDT, has unveiled a strategic plan to expand its presence in the US market, a landscape that has evolved significantly under the Trump administration. With the recent enactment of the GENIUS Act, which establishes a new regulatory framework for stablecoins and cryptocurrency firms issuing dollar-pegged cryptocurrencies, Tether is eager to capitalize on these developments. Tetherās US Market Comeback In a recent interview with Bloomberg, Tetherās CEO, Paolo Ardoino, reaffirmed the firmās plans to launch a new token, USAT, designed to comply with US regulations. Central to Tetherās strategy is its partnership with Rumble, a growing video platform with a substantial user base. Related Reading: Did Bitcoin Top? Top Trader Warns Of Brutal $98,000 Liquidity Sweep Notably, Tether holds a 48% stake in Rumble, following a notable $775 million investment in the company made in 2024. Ardoino emphasized the significance of Rumbleās 51 million monthly active users, stating, āThat is already a huge amount of users if you compare to what the competition has now in the United States.ā The US stablecoin market includes Circle (CRCL), the issuer of the second-largest dollar-pegged cryptocurrency, USD Coin (USDC), and a host of new entrants in the stablecoin arena. The Trump administration has prioritized the growth of privately issued stablecoins, particularly through the GENIUS Act, which aims to create a supportive environment for issuers. Tether, having faced scrutiny in the pastāincluding a $41 million fine for allegedly misrepresenting its reservesāhas recently made a concerted effort to re-establish its foothold in the US market. Aiming For $500 Billion Valuation With a profit of $4.9 billion recorded in the second quarter of the year, Tether has strategically invested its reserves in cash-like assets, including US Treasuries, generating significant interest income. The companyās recent ventures also extend into various industries, encompassing artificial intelligence (AI), energy, and commodities. Ardoino outlined that Rumbleās upcoming crypto wallet will play a crucial role not only for USAT but also for Tetherās tokenized gold product. Rumbleās CEO, Chris Pavlovski, echoed Ardoinoās sentiments, stating that the partnership embodies the principles of free speech and decentralized finance (DeFi). āRumble represents free speech just as Tetherās cryptocurrency and a decentralized internet represent true liberty,ā he noted, highlighting the shared vision that unites the two companies. Related Reading: XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally Additionally, Tether is seeking to raise up to $20 billion for a 3% stake, potentially valuing the company at around $500 billion. Ardoino described this valuation as a bargain, although he did not provide detailed calculations. Should this fundraising effort succeed, Tether plans to allocate part of the proceeds towards developing an artificial intelligence platform designed to function on low-cost smartphones in emerging markets, particularly in Africa and South America. Tetherās CEO also mentioned the creation of an offline, artificial intelligence-powered language translation application as part of this initiative. Featured image from DALL-E, chart from TradingView.com
Rumble At The Core: How Tether Plans To Dominate The US Stablecoin Market
Tether, the powerhouse behind the worldās largest stablecoin by trading volume, USDT, has unveiled a strategic plan to expand its presence in the US market, a landscape that has evolved significantly under the Trump administration. With the recent enactment of the GENIUS Act, which establishes a new regulatory framework for stablecoins and cryptocurrency firms issuing dollar-pegged cryptocurrencies, Tether is eager to capitalize on these developments. Tetherās US Market Comeback In a recent interview with Bloomberg, Tetherās CEO, Paolo Ardoino, reaffirmed the firmās plans to launch a new token, USAT, designed to comply with US regulations. Central to Tetherās strategy is its partnership with Rumble, a growing video platform with a substantial user base. Related Reading: Did Bitcoin Top? Top Trader Warns Of Brutal $98,000 Liquidity Sweep Notably, Tether holds a 48% stake in Rumble, following a notable $775 million investment in the company made in 2024. Ardoino emphasized the significance of Rumbleās 51 million monthly active users, stating, āThat is already a huge amount of users if you compare to what the competition has now in the United States.ā The US stablecoin market includes Circle (CRCL), the issuer of the second-largest dollar-pegged cryptocurrency, USD Coin (USDC), and a host of new entrants in the stablecoin arena. The Trump administration has prioritized the growth of privately issued stablecoins, particularly through the GENIUS Act, which aims to create a supportive environment for issuers. Tether, having faced scrutiny in the pastāincluding a $41 million fine for allegedly misrepresenting its reservesāhas recently made a concerted effort to re-establish its foothold in the US market. Aiming For $500 Billion Valuation With a profit of $4.9 billion recorded in the second quarter of the year, Tether has strategically invested its reserves in cash-like assets, including US Treasuries, generating significant interest income. The companyās recent ventures also extend into various industries, encompassing artificial intelligence (AI), energy, and commodities. Ardoino outlined that Rumbleās upcoming crypto wallet will play a crucial role not only for USAT but also for Tetherās tokenized gold product. Rumbleās CEO, Chris Pavlovski, echoed Ardoinoās sentiments, stating that the partnership embodies the principles of free speech and decentralized finance (DeFi). āRumble represents free speech just as Tetherās cryptocurrency and a decentralized internet represent true liberty,ā he noted, highlighting the shared vision that unites the two companies. Related Reading: XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally Additionally, Tether is seeking to raise up to $20 billion for a 3% stake, potentially valuing the company at around $500 billion. Ardoino described this valuation as a bargain, although he did not provide detailed calculations. Should this fundraising effort succeed, Tether plans to allocate part of the proceeds towards developing an artificial intelligence platform designed to function on low-cost smartphones in emerging markets, particularly in Africa and South America. Tetherās CEO also mentioned the creation of an offline, artificial intelligence-powered language translation application as part of this initiative. Featured image from DALL-E, chart from TradingView.com