HomeCryptoTether CTO Paolo Ardoino on taking the bull by the horn |...

Tether CTO Paolo Ardoino on taking the bull by the horn | NEWSRUX

Stablecoins have been underneath a lot scrutiny after the implosion of the third-largest stablecoin by market cap, TerraUSD (UST), in Might 2022. The UST saga led to lots of skepticism that triggered shoppers to query the protection of stablecoins. 

Within the seventh episode of Hashing It Out, Cointelegraph’s Elisha Owusu Akyaw (GhCryptoGuy) interviewed Paolo Ardoino, Tether’s chief expertise officer, about how stablecoins work alongside a dialogue on incessantly requested questions on secure tokens.

Concern, uncertainty and doubt (FUD) rocked the boats of stablecoin issuers after the third hottest stablecoin, TerraUSD, depegged in 2022. Tether was one in all such issuers on the receiving finish of the FUD. Paolo Ardoino claimed that a few of the FUD was being unfold privately and publicly by opponents. However, the Tether CTO mentioned that the FUD solely served to enhance belief between shoppers and the corporate.

“I just like the FUD a lot as a result of we are able to reply to it with info.”

One such reality was the flexibility of the corporate to face up to the strain that got here on account of panic available in the market. Ardoino factors out that Tether was capable of course of $7 billion in redemptions in 48 hours, which was 10% of the corporate’s reserves. In keeping with him, it’s an achievement that will probably be recorded within the historical past books of world finance.