Tether CTO, Paolo Ardoino, has emphasized that Tether will keep leading the pack in transparency
Mr. Ardoino also pointed out that Tether is working on a full audit with regulators
His comments on Tether come after the team at Paxos, stated that USDT and USDC are not regulated digital assets since they are backed by illiquid and risky debt obligations
The CTO at both Bitfinex and Tether, Paolo Ardoino, has commented via Twitter that Tether ‘will keep leading the pack in transparency and will improve on the communication side’. Mr. Ardoinio also explained that Tether was working on a full audit of its reserves as well as working with regulators. He also added that Tether was working on ‘some amazing developments’ for this year and 2022, as highlighted in the following two tweets.
9. #tether will keep leading the pack in transparency and will improve on the communication side. There are some amazing developments we're working on some for this year and some will come next year, we will never stop innovating.
Mr. Ardoino’s comments on the progress at USDT came a few hours after he and the General Counsel at Tether, Stuart Hoegner, had featured in a CNBC interview where they answered questions on the stablecoin’s transparency and the assets backing it.
During the interview, Mr. Hoegner had also stated that Tether was working towards getting financial audits done and the process would take ‘months, not years’.
Paxos Claims Neither USDT nor USDC is a Stablecoin