Ep. 621 Inside Tether w/ CEO Paolo Ardoino on the Future of Stablecoins and Crypto Adoption

CRYPTO 101

Bryce Paul & Brendan Viehman

Business, Investing

4.6 • 821 Ratings

🗓️ 1 October 2024

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Crypto 101 we sit down with Paolo Ardoino, CEO of Tether, to explore the transformativez role of stablecoins in the cryptocurrency industry. Paolo shares his journey from Bitfinex to Tether, reflecting on the rapid growth of USDT, now the third-largest cryptocurrency by market cap. The discussion delves into Tether’s critical role in global markets, particularly in high-inflation regions like Argentina and Turkey, where stablecoins offer an alternative to failing national currencies. Paolo also addresses Tether's commitment to transparency and its fully-backed reserves, explaining how Tether maintains 104% reserves to cover all issued USDT. Additionally, the episode touches on Tether’s expansion into artificial intelligence and peer-to-peer technology, as the company looks to innovate beyond finance and create technology for a more resilient future.

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Transcript

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0:00.0	Ladies and gentlemen, welcome back to the Crypto 101 podcast where we get to talk all things
0:14.8	cryptocurrency. No matter where you're tuning in from in the world, you're certainly in the right
0:19.4	place today because here we are getting to interviewolo Ardoino. He is the CEO of Tether. He used to
0:26.1	work as the CTO over at Bitfinex before moving to Tether last year. And man, Tether really needs
0:32.5	no introduction. So Paulo, we're excited to have you here and welcome.
0:36.7	Thank you for having me and I'm very excited.
0:39.5	You know, I have listening to your podcast, so thank you for having me again.
0:44.6	Yeah, well, we're fans of you and everything that you all have built over at Tether.
0:50.0	You've been working in the crypto space for a while now, and Tether really needs no introduction.
0:55.4	But for the people who maybe just are not as aware, Tether is one of the largest cryptocurrency
1:01.2	projects out there. It's the third largest crypto by market cap. They are the largest
1:05.6	stable coin by market cap with over $120 billion in market capitalization.
1:11.6	They've been around for a long time, so we're excited to not only talk about the state of
1:16.6	crypto and how it's evolved over the years, but really what's happening in the current day?
1:21.6	How is the landscape changed and how are we moving into a new era of not only stable coins,
1:26.6	but crypto as a whole?
1:27.9	So, you know, Paolo, before we begin here, what got you started in crypto in the first place?
1:35.4	I started in crypto in 2013. I've been a software developer all my life. I started coding when I was eight.
1:46.7	For me, coding was a way to just create or, you know, was a form of art, right?
1:55.5	So many people are good in art, like you can draw, you can paint, and it's a way to express
2:00.8	yourself.
2:01.5	For me, the software development was that.
	...

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