Tether CTO Paolo Ardoino explained why the probability of US debt defaulting is low.
Tether CTO Ardoino made comments on the US debt. The CTO of the company, the creator of the largest stablecoin, quoted his statements.
Tether CTO Paolo Ardoino Speaks About US Debt
Tether CTO Paolo Ardoino said the likelihood of a potential US default is low as it would have “catastrophic” consequences for the US economy.
Speaking on The Scoop podcast, Ardoino used the following statements in his statements:
“I think this thing about the potential US default, by the way, I don’t think will happen. So this would be catastrophic for the US economy. I think everybody just sits tight to watch what’s going on and what’s going to happen.”
Ardoino discussed what events could be the catalyst to shake things up in a market where liquidity is drying up. He noted that as Bitcoin rose from under $20,000 to $27,000, there was slightly less room for more volatile investments overall as interest rates rose. He added that people are leaning towards a more precise 5 percent yield.
The CTO continued his statements as follows:
“So overall, despite Tether’s growth in market cap, you see the entire stablecoin market as a total, I think it’s down 23% from all-time highs because in the end people prefer to sit on their own.” dollars and earn interest from it, leaving less room, less liquidity, to actually reinvest that liquidity in crypto markets.”
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