Tether CEO Paolo Ardoino addressed concerns regarding the company's reserves backing the Tether USD (USDT) stablecoin during the PlanB event in Lugano, Switzerland. Amid allegations of a U.S. government investigation into Tether, Ardoino detailed the firm's substantial assets, which include approximately $100 billion in U.S. Treasuries, over 82,000 Bitcoin worth about $5.5 billion, and 48 tons of gold. He refuted claims from the Wall Street Journal about Tether's potential investigation for alleged money laundering violations, asserting that the allegations are false and misleading. Ardoino emphasized Tether's cooperation with law enforcement to prevent misuse of USDT for illegal activities since 2014. Additionally, he commented on the challenging regulatory environment in the U.S. that may drive innovative firms to seek more favorable jurisdictions. Despite these challenges, he expressed optimism for improved conditions following the upcoming U.S. Presidential election.

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