With a global user base exceeding 300 million, Tether aims to serve as a digital dollar for those without access to banking services. However, the adoption of crypto assets such as Tether has raised concerns among regulators about potential market risks. The Bank for International Settlements, in a paper last year, warned that crypto assets could exacerbate financial risks in developing economies, despite their perceived benefits. they are a quick solution to financial challenges.
In Argentina, cryptocurrency exchanges have become influential in the currency markets, with the Tether-peso trading pair on cryptocurrency exchanges often used as a proxy for dollar exchange rates. US dollars and pesos. The broader cryptocurrency market recovered from the recession in 2022, with Bitcoin reaching a new all-time high in March, fueled by enthusiasm for capital flows into exchange-traded funds. US spot bitcoin exchange (ETF). This resurgence has also supported Tether's growth, Ardoino said.
Ardoino, who took on the CEO role in December while remaining interim chief technology officer, announced that the company is expanding its team to about 150 employees, up from 100 currently. , as it ventures into new areas such as artificial intelligence.
