There is very little to be forever in the crypto market, but at least two major Stablecoins USDT and USDC and its issuer Tether and Circle battles are here to stay for a while.
The latest tension came today when Tether CEO Paolo Aldoino delves into their main challenger with the assertion that “tethers don’t need to be public.”
This can be considered a direct swipe in the circle as the USDC issuer has recently filed it with the SEC as it plans to list it on the New York Stock Exchange. Circle doesn’t say what the terms of the IPO will be, but if the regulator gives Aamead, the offering will proceed once the due diligence is complete.
Tether doesn’t need to go to public.twitter.com/afa28xdktg
-Paolo Ardoino🤖 (@paoloardoino) April 4, 2025
Clearly, in the Ardoino statement, Tether’s book is so good that it gives us the peace of mind that USDT publishers don’t have to attract more capital and are independent. You can certainly see it that way.
According to the latest disclosure, Tether has raised nearly $148 billion in reserves to support the Fiat Tether token in distribution. Bitcoin also has a reserve of 92,646 BTC USDT worth approximately $7.78 billion, supporting the issuance of Stablecoin.
Meanwhile, the company’s refusal to make it public can also be seen as a strategy to avoid a detailed scrutiny of their very reserves.
Meanwhile, the crypto market is still as competitive as ever, and such public agendas certainly make this place special.
