Tether’s Paolo Ardoino Acknowledges Challenges, Receives Support at Cantor Conference

Ardoino addressed the audience at the Cantor Fitzgerald Global Technology Conference on Wednesday during his inaugural visit to the United States.

Key Points:

• Paolo Ardoino, the public face of Tether, received a warm reception at the Cantor Fitzgerald Global Technology Conference in New York.
• "We've been through hell," Ardoino said, referencing Tether's past scrutiny by U.S. regulators. The company settled charges with the CFTC and NYDFS in 2021.
• Despite being an offshore stablecoin issuer, Tether maintains strong connections to the U.S., including its role as a major U.S. debt buyer, its investment in video platform Rumble, its partnership with Cantor Fitzgerald, and collaboration with U.S. agencies like the FBI and Secret Service to combat illicit activities.

When Paolo Ardoino, the prominent figure behind one of crypto's most influential companies, took the stage at the Cantor Fitzgerald Global Technology Conference in New York, attendees greeted him with applause and cheers.

Unlike many in the crowd who dressed to impress, Ardoino stood out for his casual attire—sporting a light blue Ralph Lauren polo and gray khakis—despite likely being one of the wealthiest individuals in the room.

"This is my first trip to America," Ardoino began. "It's beautiful. I feel very welcomed."

For years, the Italy-born computer scientist steered clear of the U.S., instead focusing Tether's operations on developing regions, emphasizing financial freedom as the company's primary mission.

Tether CEO Paolo Ardoino on stage at the Cantor Fitzgerald Global Technology Conference in New York on March 12, 2025 

Tether has long faced scrutiny from both industry leaders and U.S. authorities, including the Department of Justice (DOJ), the Commodities and Futures Trading Commission (CFTC), and the New York State Department of Financial Services (NYFSD).

That dynamic appears to be shifting. Over the past week, Ardoino has been touring the U.S., sharing photos from the steps of the U.S. Capitol in Washington, D.C., and participating in a fireside chat with Strike CEO Jack Mallers at a Bitcoin Policy Institute event.

Despite past legal challenges—Tether settled cases with the CFTC and NYDFS in 2021, and reports of a DOJ investigation have surfaced in recent years—Ardoino addressed conference attendees with confidence.

“We’ve been through hell,” he said. “People said that if I came to the U.S., I’d be arrested ... They will try to scare you off."

"But we’re still here, right?”

Following a recap of Tether’s dominance in the stablecoin market—including its reported $13 billion profit in 2024 and USDT’s 60% market share—Ardoino highlighted the company’s latest initiatives in education, artificial intelligence, and real-world asset (RWA) tokenization.

“The outlook for this year is wonderful as well,” Ardoino stated.

His visit to the U.S. coincides with legislative efforts to regulate the rapidly expanding $200 billion stablecoin market. Tether remains the dominant player in this space, with its USDT stablecoin valued at $143 billion, significantly outpacing U.S.-based competitor Circle and its $58 billion USDC token.

Despite being an offshore company—recently announcing plans to establish headquarters in El Salvador—Tether maintains strong ties to the U.S. financial system. The firm is one of the largest buyers of U.S. debt, holding nearly $100 billion in U.S. Treasuries and government-backed securities as reserves for its USDT token. If it were a sovereign nation, it would rank among the top 20 holders of U.S. debt.

At a White House digital asset summit, Treasury Secretary Scott Bessent emphasized that stablecoins play a crucial role in maintaining the U.S. dollar’s dominance as the world’s reserve currency—an argument Ardoino has frequently echoed.

Additionally, Tether has a significant connection to the Trump administration through Commerce Secretary Howard Lutnick, the former CEO of Cantor Fitzgerald. The Wall Street investment firm, which manages Tether’s U.S. Treasury holdings, is reported to have an investment in Tether’s holding company. During his confirmation hearing, Lutnick clarified that Cantor holds Tether convertible bonds but does not have an equity stake in the firm.

Ardoino previously stated that the company has integrated U.S. agencies, including the FBI and Secret Service, into its platform to help combat illicit activities.

On the investment side, Tether made a significant move by becoming a major shareholder in the U.S.-listed video-sharing platform Rumble, with a $775 million investment. Rumble, which has gained popularity among conservative and right-leaning users, has plans to introduce a crypto wallet and enable payments using USDT, BTC, and Tether’s gold-backed token, XAUT, with Tether’s support.

While Ardoino was on stage Wednesday, Rumble CEO Chris Pavloski repeatedly attempted to contact him.