Key Takeaways:
- Tether Rejects JPMorgan’s Claims – Tether dismissed JPMorgan analysts’ suggestion that it may need to sell Bitcoin, criticizing their understanding of Bitcoin and stablecoin regulations.
- Regulatory Uncertainty – Proposed U.S. stablecoin regulations, including the GENIUS Act and STABLE Act, could impact Tether’s reserve composition if passed.
- Ardoino’s Fiery Response – Tether CEO Paolo Ardoino mocked JPMorgan analysts, implying they are frustrated about missing Bitcoin opportunities.
Tether has strongly denied claims from JPMorgan analysts suggesting it may need to sell Bitcoin to comply with potential U.S. stablecoin regulations.
The JPMorgan report, published on Feb. 12, argued that if new regulations like the GENIUS Act and STABLE Act are enacted, Tether might have to shift its reserve holdings away from Bitcoin and precious metals in favor of U.S. Treasury bills and other compliant assets.
EXCLUSIVE: JPMorgan says Tether may need to sell bitcoin to comply with proposed US stablecoin regulations https://t.co/gqbfCMP28y
— The Block (@TheBlock__) February 13, 2025
Tether swiftly rejected these claims, with a spokesperson criticizing JPMorgan’s understanding of both Bitcoin and Tether’s financial position.
CEO Paolo Ardoino also dismissed the report, implying that JPMorgan analysts were frustrated over missing out on Bitcoin gains.
JPM analysts are salty because they don't own Bitcoin.
— Paolo Ardoino 🤖🍐 (@paoloardoino) February 13, 2025
The proposed regulations aim to establish stricter reserve requirements for stablecoin issuers.
JPMorgan’s report noted that only 66% of Tether’s reserves would comply under the STABLE Act, while 83% would meet the GENIUS Act’s standards.
However, Tether insists it is well-positioned to adapt, highlighting its $20 billion in liquid assets and strong quarterly profits.
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