Tether CEO says USDT drives 40% of gas fees, plans U.S.-compliant stablecoin

Description

Paolo Ardoino, the CEO of Tether, attributed nearly 40% of all blockchain gas fees to transactions sending USDT. He pointed out that hundreds of millions of users on ETH, Arbitrum, BSC, Solana, Polygon, TON, Avalanche, and Tron used USDT daily. Ardoino asserted that the Tether digital dollar (USDt) protected families in emerging economies against local inflation and national currency devaluation. He added that blockchains focusing on “lower gas fees” paid in USDT would “take over the world.” How...