{"id":20322,"date":"2024-05-13T12:30:13","date_gmt":"2024-05-13T12:30:13","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20322"},"modified":"2024-05-13T10:39:34","modified_gmt":"2024-05-13T10:39:34","slug":"ripple-ceo-brad-garlinghouse-warns-of-us-government-crackdown-on-tether","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ripple-ceo-brad-garlinghouse-warns-of-us-government-crackdown-on-tether\/","title":{"rendered":"Ripple CEO Brad Garlinghouse Warns of US Government Crackdown on Tether"},"content":{"rendered":"

Ripple CEO Brad Garlinghouse has issued a stark warning about the potential for the US government to target Tether, the issuer of the world’s largest stablecoin by market capitalization. Garlinghouse made the remarks during a recent episode of the World Class Podcast with Chris Vasquez.<\/p>\n

Ripple CEO Brad Garlinghouse Claims US Government Targeting Tether<\/strong><\/p>\n

According to Garlinghouse, potential US action against the stablecoin issuer could trigger significant disruption in the crypto space.<\/p>\n

“The US government is coming after Tether. That’s very clear to me. I see Tether as a very important part of the ecosystem, and I don’t know how to predict the impact that would have on the rest of the ecosystem,” Garlinghouse stated.<\/p>\n

This assertion comes amid growing scrutiny surrounding Tether, following revelations that its USDT<\/a> stablecoin has been utilized by terrorist organizations and sanctioned nations to circumvent US financial restrictions.<\/p>\n

In April, US Treasury Under Secretary Adewale Adeyemo testified before the Senate Banking Committee, highlighting Russia’s increasing adoption of alternative payment methods, including Tether’s USDT, to evade economic sanctions.<\/p>\n

“We have seen Russia increasingly turn to alternative payment mechanisms, including the stablecoin tether, to bypass our sanctions and continue to finance its war machine,” Adeyemo remarked.<\/p>\n

Concurrently, a UN report shed light on the pervasive use of cryptocurrencies for illicit activities, with USDT on the TRON blockchain emerging as a prominent tool, particularly within illicit online gambling platforms.<\/p>\n

Despite these concerns, Tether maintains its commitment to compliance standards and collaboration with law enforcement to combat illicit financing.<\/p>\n

The company has implemented proactive measures, including freezing addresses associated with entities engaging in illicit activities.<\/p>\n

Tether’s USDT maintains its position as the leading stablecoin by market capitalization, boasting a circulating supply of approximately $110 billion. Notably, the company reported a historic first-quarter net profit of $4.52 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple CEO Brad Garlinghouse has issued a stark warning about the potential for the US government to target Tether, the issuer of the world’s largest stablecoin by market capitalization. Garlinghouse made the remarks during a recent episode of the World Class Podcast with Chris Vasquez. Ripple CEO Brad Garlinghouse Claims US Government Targeting Tether According<\/p>\n","protected":false},"author":1,"featured_media":10930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[1648,58,6054,5870,1751,509,6055,488,118,293,4632,119,6056],"class_list":["post-20322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-brad-garlinghouse","tag-cryptocurrency","tag-illicit-financing","tag-money-laundering","tag-regulation","tag-ripple","tag-sanctions","tag-stablecoin","tag-tether","tag-tron","tag-us-government","tag-usdt","tag-world-class-podcast"],"yoast_head":"\nRipple CEO Brad Garlinghouse Warns of US Government Crackdown on Tether - Coin Engineer<\/title>\n<meta name=\"description\" content=\"According to Garlinghouse, potential US action against the stablecoin issuer could trigger significant disruption in the crypto space.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ripple-ceo-brad-garlinghouse-warns-of-us-government-crackdown-on-tether\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple CEO Brad Garlinghouse Warns of US Government Crackdown on Tether - 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