{"id":520215,"date":"2024-05-13T09:06:13","date_gmt":"2024-05-13T09:06:13","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=520215"},"modified":"2024-05-13T09:06:13","modified_gmt":"2024-05-13T09:06:13","slug":"ripple-ceo-brad-garlinghouse-says-its-clear-the-us-is-going-after-tether","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ripple-ceo-brad-garlinghouse-says-its-clear-the-us-is-going-after-tether","title":{"rendered":"Ripple CEO Brad Garlinghouse Says It’s Clear The US Is ”Going After” Tether"},"content":{"rendered":"

It’s clear that the US is ”going after” stablecoin issue Tether, and the outcome of such action on the crypto ecosystem is difficult to predict, said Ripple CEO Brad Garlinghouse.<\/p>\n

Tether is a ”very important” part of the crypto industry and Garlinghouse said the regulatory action against it by the Securities and Exchange Commission will be ”an interesting one to watch.”<\/p>\n

There is a “100%” chance of another crypto market black swan event on the scale of the collapse of FTX, Garlinghouse added in <\/span>a May 10 <\/span>episode<\/span><\/a> of the World Class podcast, without linking that to the action against Tether<\/span><\/p>\n

\"Brad<\/p>\n

Garlinghouse’s comments come as Ripple plans to launch its own dollar-backed <\/span>stablecoin<\/span><\/a> to rival market leaders Tether USDT and USD Coin (USDC). Set to debut later this year, the stablecoin will be deployed on the XRP Ledger and the Ethereum blockchain.<\/span><\/p>\n

The Ripple CEO said that the launch of a stablecoin is the next natural step for the crypto company as it aims to win a share of the booming stablecoin market that is projected to soar past $2.8 trillion by 2028.<\/span><\/p>\n

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1\/ The stablecoin market is booming – around $150B today, and projected to soar past $2.8T by 2028. There's a clear demand for trust, stability, and utility. <\/p>\n

That's why later this year we’re launching a stablecoin pegged 1:1 to the USD on the XRP Ledger and Ethereum.…<\/p>\n

— Ripple (@Ripple) April 4, 2024<\/a><\/p><\/blockquote>\n