tether ceo Archives - Coin Engineer

Satoshi Nakamoto Statue Retrieved from Lake Lugano

Emre Yumlu — Mon, 04 Aug 2025 11:00:08 +0000

The iconic statue dedicated to Bitcoin’s mysterious creator, Satoshi Nakamoto, and recognized globally as a symbol of the crypto community, has resurfaced after a recent incident in Lugano, Switzerland. The statue, which was reported stolen over the weekend, was found by municipal workers submerged in Lake Lugano. According to a statement from the art collective Satoshigallery, the statue had been removed from its place in Parco Ciani, a park near the lake, and thrown into the water after being dismantled.

Statue Found in Pieces

The statue was retrieved from the lake in several broken parts by Lugano city workers, indicating the event may have been an act of vandalism rather than theft. It was noted that the statue had only been welded to the base at two points on its feet, making it relatively easy to detach. Following its disappearance, Satoshigallery offered a reward of 0.1 BTC (approximately $11,000) to anyone who could help recover it.

“You Can Steal Our Symbol, But Never Our Soul”

Created by Italian artist and Bitcoin advocate Valentina Picozzi, the statue was unveiled in October 2024 and had since become a strong emblem of the Bitcoin community. According to the artist, the planning and construction of the statue took a total of 21 months. The attack drew strong reactions from the community. Pointsville CEO Gabor Gurbacs expressed his frustration on X, stating, “Such a tasteless and foolish act… I hope the perpetrators are caught.”

Some users speculated that intoxicated individuals during the August 1st Swiss National Day celebrations might be responsible for the vandalism. Bitcoin advocate Gritto shared a similar opinion. Tether CEO Paolo Ardoino responded to the statue’s recovery with just a heart emoji. Satoshigallery, on the other hand, released a resilient message saying, “You can steal our symbol, but never our soul.” The collective also reaffirmed its commitment to placing similar statues in 21 locations around the world.

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Tether CEO’s MiCA Statement

Tanju Akbıyık — Mon, 28 Oct 2024 16:30:04 +0000

Tether CEO Paulo Ardoino has warned that stablecoin issuers could face systemic risks and financial instability due to new banking reserve requirements, amid the European Union’s upcoming Markets in Crypto-Assets Regulation (MiCA). When MiCA comes into effect on December 30, stablecoin issuers will be required to hold at least 60% of their assets in European banks. This could make it harder for stablecoins to access their underlying assets, given that banks can lend out 90% of their reserves.

Ardoino points out that under MiCA, a large portion of the stablecoin issuers’ assets in banks in Europe will be converted into loans, which could put a large portion of the issuers’ reserves at risk in the event of a bankruptcy. For example, if Tether manages €10 billion, €6 billion of that would need to be held in banks. However, the fact that banks can distribute 90% of this amount as loans creates potential risks to the adequacy of stablecoin reserves.

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Ardoino, on the other hand, states that under the MiCA framework, stablecoin issuers can protect themselves against the risk of bankruptcy. As a suggested solution, he emphasizes that reserves can be secured by purchasing securities such as treasury bonds or government bonds in addition to bank accounts.

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Tether Aims to Expand its Peer to Peer Transactions

Tanju Akbıyık — Mon, 22 Apr 2024 21:00:52 +0000

Tether aims to improve peer-to-peer payments on Telegram by expanding the availability of dollar- and gold-backed stablecoins on the TON network. The move comes as the TON network is experiencing rapid growth, driven in part by incentives for Telegram users.

Originally launched by Telegram, the TON network has since become independent due to regulatory concerns. Tether, the company behind the widely used USDT stablecoin, announced plans to introduce USDT and XAUT tokens onto the TON blockchain, which works directly with the Telegram messaging app.

According to Tether’s transparency page, $10 million worth of USDT has been authorized on the TON blockchain and $3 million has already been issued. By introducing these stablecoins to the TON ecosystem, Tether aims to facilitate borderless peer-to-peer payments among Telegram’s large user base of approximately 900 million users. Additionally, the expansion will support the growing DeFi ecosystem on TON, offering users financial opportunities similar to traditional systems.

Tether CEO Paolo Ardoino emphasized the importance of this move and stated that it is in line with their mission to strengthen open financial infrastructure in the blockchain space.

The TON network has seen significant growth, with monthly active addresses exceeding 1.7 million, up from less than 100,000 just six months ago. Telegram has also switched to using the network’s native token, toncoin (TON), for its advertising platform, contributing to the token’s 18% price increase in the last 24 hours and tripling in value this year, gaining a market cap of $25 billion.

Telegram’s crypto wallet supports multiple blockchains for deposits and withdrawals, while TON encourages adoption by lowering transaction fees. Halil Mirakhmed, COO of Wallet at Telegram, stated that USDT on TON is the only stablecoin available in the Ton Space ecosystem, simplifying the user experience for those interested in the TON ecosystem.

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