Tether CEO Reacts to Massive USDT Demand in Paraguay
Photo: U.Today
Tether CEO Paolo Ardoino has responded to claims that the company's stablecoin, USDT, is being increasingly sought after in Paraguay following a significant banking crisis that cut off millions of people from their savings. Ardinoino has described this as "a flight to safety." As noted in a recent X post by Bitcoin proponent Samson Mow, Tether's USDT has seen a significant rise in value relative to the Paraguayan guaraní amid the collapse of Ueno Bank, one of Paraguay's biggest digital lenders.
Source: U.Today
