USDT News: Tether CEO Responds to J.P. Morgan Report, Claims High Liquidity

Tether CEO Paolo Ardoino has responded to a recent J.P. Morgan report, asserting that his company is highly liquid and capable of meeting the requirements of proposed U.S. stablecoin legislation. He criticized J.P. Morgan's analysis and anticipated more clarity on the bills in the NEAR future.

Tether CEO Slams J.P. Morgan Report, Claims Firm Is Liquid

Tether CEO Paolo Ardoino has discredited a recent J.P. Morgan report, stating that his firm is very liquid and could accommodate the demands of proposed U.S. stablecoin bills. Ardoino termed J.P. Morgan as 'salty' and added that more clarity on the bills would be known in the coming weeks. According to J.P. Morgan, only 66%-83% of Tether’s reserve assets comply with the GENIUS Act and STABLE Act.

Bybit Fully Migrates Options Platform to Tether (USDT)

Bybit, a widely used cryptocurrency exchange, is fully migrating its options platform to Tether (USDT). The move, announced by Tether CEO Paolo Ardoino, is expected to provide Bybit with unprecedented liquidity. The exchange will switch its options and linear expiry futures contracts to USDT, and stop issuing new USDC-settled contracts after February 26. This decision comes at a time when USDC usage is growing, while USDT is being divested from certain exchanges. Ardoino believes the migration will bring additional liquidity to Bybit, benefiting institutional customers with unmatched liquidity.

Tether Acquires Minority Stake in Juventus

Tether, the company behind the largest stablecoin by market capitalization, USDT, has announced the acquisition of a minority ownership stake in Italian football giant Juventus. This strategic investment allows Tether to integrate its digital assets, payments, and newly acquired AI and biotech expertise into the sports industry. The move also promotes blockchain technology through the high-profile partnership.