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Ripple CEO Warns: The U.S. Is Going After This Crypto Money - Coin Bulletin
Ripple CEO Brad Garlinghouse has revealed that the U.S. government is targeting Tether.
According to the Ripple CEO, the U.S. government has gone after Tether, the issuer of USDT.
Brad Garlinghouse said, "The U.S. government went after Tether. This is clear to me. I see Tether as a very important part of this ecosystem, and I can't predict how this will affect the rest of the ecosystem."
Authorities in the U.S. have found that USDT is being used to circumvent embargoes. The U.S. Deputy Secretary of the Treasury said last month that Russia is resorting to alternative payment methods such as Tether.
With a market capitalization of about $110 billion, USDT is still the largest stablecoin in the market. Tether posted a net income of $4.52 billion in the first quarter of the year.