Tether Targets US Stablecoin Domination with 2025 Launch—Regulators Already Sighing

Tether’s coming for the US stablecoin crown—again. The controversial giant plans a fresh dollar-pegged entry before year-end, doubling down despite regulatory side-eye.

Why now? Because nothing says ’trust us’ like launching during election chaos and a debt ceiling crisis. The move could reshape crypto-fiat gateways—or just give lawmakers another excuse for grandstanding hearings.

One thing’s certain: Wall Street’s old guard will clutch pearls while quietly updating their own stablecoin blueprints.

Tether’s dance in Washington

Ardoino has been making rounds in Washington, including a Capitol Hill lunch with Senator Bill Hagerty and private meetings with lawmakers. 

His efforts appear to align with the GOP’s GENIUS Act, which could ease U.S. operations for foreign stablecoin issuers that cooperate with law enforcement.

Tether, headquartered in El Salvador, has a checkered history with regulators. In 2021, it paid $18.5 million to settle claims it misled the New York attorney general about its reserves. 

Today, the company claims it holds nearly $120 billion in U.S. Treasuries, overseen by Cantor Fitzgerald. 

Its Q1 audit showed it had $5.6 billion in excess reserves, down from $7 billion at year-end.

The firm’s U.S. expansion coincides with news that Eric and Donald Trump Jr. plan to launch their own dollar-backed stablecoin through a venture linked to their father’s political brand, potentially setting the stage for a domestic stablecoin arms race.