Tether CEO Paolo Ardoino denies plans to build blockchain

Paolo Ardoino wants to make one thing very clear: Tether is not building a blockchain. Not now, not later, not ever, apparently. The Tether CEO issued an emphatic denial on August 15 after a CoinMarketCap report the previous day lumped his company in with a group of firms allegedly raising over $1 billion to build dedicated dollar-focused blockchains. The report named Stripe and Circle alongside Tether as participants in what it called a “stablechain” push. What actually happened Ardoino stated plainly that Tether is “NOT building any blockchain,” drawing a sharp line between investing in projects and actually constructing proprietary infrastructure. Tether reportedly backs two competing blockchain projects, Plasma and Stable. Ardoino framed these relationships as financial support and collaboration, not evidence of Tether building its own chain. His broader point was about Tether’s identity as a company. The firm describes itself as “agnostic” when it comes to transport layers, meaning it will operate across multiple existing blockchain networks for distributing USDT rather than locking itself into a single proprietary network. Why Tether stays multi-chain USDT currently operates ...