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Tether Says No to Blockchain Launch: We’re Too Cool for Our Own Technology

Crypto NewsFeaturedStablecoins 1 Kevin Nelson August 25, 2024

An illustration of a blockchain network with multiple chains branching out, but one chain (Tether) remains detached from the rest. The disconnected chain has an 'X' marked through it, while other chains are labeled as 'commoditized'. In the background, coins and transactions flow smoothly between the connected blockchains.

There’s nothing quite like watching cryptocurrency companies eat their own lunch. I mean, who needs your own blockchain when you can just use someone else’s? Paolo Ardoino and Tether are basically saying ‘Hey, we’re good with the blockchains that already exist, no need to bother creating our own.’ It’s almost as if they’ve realized that launching a new blockchain is about as exciting as watching paint dry. And let’s be real, folks, it’s not like there aren’t enough blockchains out there for people to get confused and lost in the sea of options.

Source: cointelegraph

Tether shuns blockchain launch, cites market concerns
https://cointelegraph.com/news/tether-shun-blockchain-launch-cites-saturation-strategy
Tether, the issuer of the world’s largest stablecoin, USDT, has calculated to forgo its own blockchain launch, citing market saturation and strategic concerns.  According to an interview with Bloomberg News, the company’s CEO, Paolo Ardoino, explained that the stance comes from analyzing the blockchain space and a crowded market. Ardoino stated that the firm launching a blockchain might not be the “right move” since “very good blockchains” are already available […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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