Bo Hines to become CEO of Tether’s latest dollar-backed stablecoin
Analysis
Price Impact
MedA new stablecoin backed by usd from tether could increase usdt's market share and liquidity, but also introduces competition and regulatory scrutiny.
Trustworthiness
MedTether's involvement adds credibility but past controversies and regulatory concerns should be considered.
Price Direction
NeutralThe introduction of a new stablecoin does not directly impact the price of usdt, but may indirectly influence market dynamics.
Time Effect
LongThe success and adoption of the new stablecoin will unfold over time, shaping the stablecoin landscape.
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Article Content:
Vince Quill 2 minutes ago Bo Hines to become CEO of Tether’s latest dollar-backed stablecoin The former White House crypto adviser joined Tether in April, but will be advancing to CEO of its planned “US-regulated, dollar-backed stablecoin.” 10 Breaking news COINTELEGRAPH IN YOUR SOCIAL FEED Tether has announced a new dollar-backed stablecoin, and former White House crypto advisor Bo Hines will be stepping up as CEO of the company. The new stablecoin will be consistent with the reserve requirements and compliance standards of the recently passed GENIUS stablecoin bill , and will use Tether’s Hadron real-world asset tokenization platform, according to a Friday announcement . Stablecoins recently crossed the $270 billion milestone, according to RWA.XYZ . Tether CEO Paolo Ardoino said: “Tether is already one of the largest holders of US Treasuries because we believe deeply in the enduring power of the dollar. USA₮ is our commitment to ensuring that the dollar not only remains dominant in the digital age, but thrives.” Stablecoins have become a geostrategic policy issue for the Trump administration in the United States and is quickly becoming a focus in other countries like China as well. This is a developing story, and further information will be added as it becomes available. # Business # White House # Tether # Stablecoin Add reaction