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Tether CEO touts stablecoin reach as alternative US debt demand
Paolo Ardoino said Tether created “decentralized ownership” of US Treasuries via 650 million USDT users, while Tether documents continue to describe token holders as redeemable through a Tether-controlled reserve portfolio.
Tether CEO Paolo Ardoino argued that stablecoins can reduce concentration risk in US Treasury buyers by spreading access across a much larger user base, framing Tether USDT as a channel for Treasury demand. In an Aug. 31 episode of The Wolf of All Streets, Ardoino said Tether has created “decentralized ownership of the US debt” through 650 million people who are “basically holding some US Treasuries,” pointing to the idea that a widely distributed group is less likely to coordinate a sudden sell-off than a single concentrated buyer. CryptoSlate notes that the claim blends different relationships that are distinct under Tether’s own documentation. According to Tether materials, users hold USDT and eligible verified customers have a personal contractual right to redeem, while Tether International owns and manages the reserve assets. CryptoSlate also highlighted that the “650 million” figure is attributed to Tether, and Tether previously acknowledged that its user estimates rely on proxies such as on-chain addresses or accounts plus add-ons for centralized holdings. The outlet further said Tether’s terms describe issuance and redemption as administered by Tether and tied to customer verification, with reserve assets held or invested in a basket that can change at Tether’s sole discretion.