Ripple CEO Brad Garlinghouse Claims US Government is Targeting Tether

Ripple CEO, Brad Garlinghouse, has expressed his belief that the US government is specifically targeting Tether, the largest stablecoin by market capitalization. In a recent podcast, Garlinghouse stated that potential action against Tether could cause significant disruptions within the crypto space. These claims come in light of recent reports exposing the use of Tether by terrorist organizations and sanctioned countries to bypass US financial restrictions. Additionally, a UN report highlighted the extensive use of cryptocurrencies, specifically Tether on the TRON blockchain, for money laundering purposes. Despite these concerns, Tether maintains its commitment to compliance and collaboration with law enforcement to counter illicit financial activities. It is important to note that Tether still holds its position as the leading stablecoin issuer by market capitalization, with a circulating supply of around $110 billion. Interestingly, Ripple has announced its plans to enter the stablecoin sector, aiming to contribute to the XRPL ecosystem and create a more diverse crypto landscape. The company has yet to disclose further details about its stablecoin, but Ripple’s CTO, David Schwartz, hinted that the name may be revealed in June.