Tether's CEO, Paolo Ardoino, expresses no urgency for an IPO despite a potential market valuation of a staggering $515 billion.
Article Rewrite
The Unwavering Stance of Tether's CEO: Steering Clear of the Stock Market
Paolo Ardoino, CEO of Tether, has thrown cold water on the idea of taking their stablecoin issuer public on the stock market, disregarding an evalution of $515 billion. This was in response to Artemis CEO Jon Ma's estimation that Tether, if public today, would rank higher than household names like Costco and Coca-Cola.
On the social media platform X, Ardoino chimed in on the topic, expressing,
"The Tether's valuation at $515 billion is a powerful number, be it slightly bearish considering our increasing Bitcoin and Gold treasury. Yet, I feel truly humbled and excited about the upcoming growth of our company."
Despite the striking success of Circle's initial public offering (IPO), Tether sees no need to go public. Just last week, USDC, Circle's second-largest stablecoin, had a triumphant stock market debut on the New York Stock Exchange, soaring above $123 in just two trading days after opening at $69 per share - a 300% gain from the IPO price.
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- The finance industry buzzes with the latest announcements, including IMBX Exchange launching a next-generation trading platform, AiXuSpeed attracting $500,000 in token commitments, and Galaxy Ventures investing $8 million in RISE Chain for lightning-fast apps on Ethereum.
- In the realm of cryptocurrency, Altcoins are under scrutiny as analysts predict a potential dive driven by the dominance of Bitcoin, while the prominent industry figure Robert Kiyosaki predicts an undisclosed bargain asset before the anticipated 'crash.'
- Meanwhile, in the business sector, Tether, despite its $515 billion valuation and success stories like Circle's IPO, sees no immediate need to go public, focusing instead on bolstering its Bitcoin and Gold treasury and steering clear of the stock market.
