JAKARTA - Brad Garlinghouse, CEO of Ripple, warned of a shock that the United States government may have taken against Tether (USDT), a stablecoin with the world's largest market cap.
Garlinghouse highlighted the USDT's important role in the global crypto ecosystem, expressing concerns that stricter law enforcement measures could surprise the market.
In a number of interviews and public statements, Garlinghouse stressed that USDT, which is often used as a means to avoid sanctions and money laundering, is now under strict scrutiny.
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As reported by Coincu, recent findings suggest that USDT has been exploited by sanctioned countries and terrorist organizations to trick US financial restrictions.
Adivele Adeyemo, Deputy Secretary of the US Treasury, has noted an increase in the use of Tether by Russia as a way to avoid economic sanctions imposed by Western countries. The UN report also highlighted the widespread use of cryptocurrencies, especially USDT on the TRON blockchain, in money laundering operations.
With supplies circulating around 110 billion US dollars (around Rp1,768 trillion), USDT Tether remains the top stablecoin by market cap. While the second is occupied by USDC Circle, followed by DAI and FDUSD.
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