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Tether’s growth fueled by global demand for U.S. dollars

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Tether CEO Paolo Ardoino shared his thoughts into the future of stablecoins and the impact of new legislation from the White House.

Ardoino stated during a Bloomberg TV interview on Thursday that the Trump administration’s recently proposed stablecoin bill can provide regulatory clarity and would benefit the role of digital U.S. dollars.

“This bill would unlock very much clarity on the stablecoin role for the future of the U.S. dollar and how we should be managed in a very safe and serious way,” Ardoino explained.

He emphasized that Tether’s growth has been remarkable, particularly in emerging markets and developing countries, where the company sees around 40 million new wallets added each quarter.

Partnership with Cantor Fitzgerald

Ardoino also discussed Tether’s strategic partnership with Cantor Fitzgerald.

“Our relationship with Cantor is strong and we are grateful to the fact that they onboarded us,” he said.

He explained that Cantor conducted thorough due diligence on Tether before deciding to allow them to hold U.S. Treasury bills.

“The past administration in the United States just tried to almost kill crypto,” Ardoino added, highlighting the importance of Cantor’s trust and partnership. This relationship reinforces Tether’s credibility within the traditional financial sector, signaling a shift toward broader acceptance of stablecoins in mainstream finance.

Why Tether is not based in the U.S.

When asked why Tether is not based in the U.S., Ardoino pointed to the global demand for U.S. dollars.

“If you go outside the U.S. and you make a dozen people in the street and you ask them, ‘Would you prefer to hold the U.S. dollar or your national currency?’ they will all choose the dollar,” he said.

He further explained that there are 3 billion people “not having access to traditional systems” and are “desperate” to have easy access to the dollar. Tether has strategically positioned itself to meet this demand, contributing to the strength of the dollar abroad while providing financial solutions to underserved populations.

Stablecoins and global influence

Ardoino also discussed the geopolitical importance of stablecoins and how it can positively impact the greenback.

“We are building infrastructure in emerging markets, and I believe these are the last strongholds of support for the U.S. dollar,” he noted.

This reflects Tether’s strategic positioning to strengthen the dollar’s global presence while addressing financial accessibility challenges in underserved markets.

Ardoino’s insights underscore Tether’s pivotal role in the evolving financial landscape, where stablecoins are poised to bridge gaps between traditional and digital economies.



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Kentucky Senate Passes Bill Protecting Bitcoin Self-Custody Rights

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Yesterday evening, the Kentucky Senate unanimously passed a bill aimed at protecting Bitcoin self-custody rights and digital asset mining operations. With a decisive 37-0 vote, the legislation, titled AN ACT relating to blockchain digital assets (HB 701), now moves to the Governor’s desk for final approval.

Sponsored by Representatives Adam Bowling and T.J. Roberts, the bill affirms the right of individuals to self-custody digital assets through self-hosted wallets. Additionally, it prevents local zoning laws from discriminating against digital asset mining businesses, ensuring that Bitcoin miners can operate freely within the state.

The bill outlines several key provisions, including:

  • Protection for Bitcoin self-custody: Individuals have the legal right to use and store digital assets in self-hosted wallets.
  • Prohibition of discriminatory zoning laws: Local governments cannot impose zoning changes that unfairly target digital asset mining businesses.
  • Exemptions from money transmitter licensing: Home Bitcoin miners and digital asset mining businesses are exempt from Kentucky’s money transmitter requirements.
  • Clarification of securities laws: Digital asset mining and staking as a service are explicitly not classified as securities under Kentucky law.

After passing through the Kentucky House with a 91-0 vote on February 28, 2025, the bill moved swiftly through the Senate. The March 13 vote saw full bipartisan support, with 37 senators voting in favor, zero opposed, and one not voting.

The legislation now awaits the Governor’s signature, which would officially enshrine Bitcoin self-custody protections and digital asset mining rights into Kentucky law. If signed, Kentucky will become one of the more Bitcoin-friendly states in the country, setting a precedent for other states to follow.





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Crypto Fintech Giant MoonPay Continues Acquisition Spree With Purchase of Stablecoin Infrastructure Platform

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The web3 infrastructure provider MoonPay just announced its acquisition of the stablecoin infrastructure developer Iron just months after purchasing crypto payments platform Helio.

In a statement, MoonPay says its new acquisition significantly expands its offerings with solutions that allow businesses to manage multi-currency treasuries, facilitate instant cross-border payments and generate new revenue through yield-bearing assets.

Says MoonPay’s co-founder and CEO, Ivan Soto-Wright,

“This acquisition is a strategic step forward, positioning MoonPay at the forefront of enterprise-grade stablecoin solutions. With Iron’s technology, we’re putting the power of instant, programmable payments into the hands of enterprises, fintechs, and global merchants.”

Iron co-founder and CTO Omid Aladini says that joining forces with MoonPay is also beneficial to the platform.

“Since we rolled out the Iron stablecoin API the interest has been absolutely phenomenal! But once part of MoonPay, we’ll be able to scale exponentially faster.

We’ve built a developer-first API experience to power apps, exchanges, institutions, DEXs, and PSPs around the world to move stablecoins across crypto ecosystems and fiat rails. It’s the foundational infrastructure for the future of money.”

MoonPay also acquired Helio in January. The Solana (SOL) crypto payment processor enables merchants and creators to accept cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and SOL.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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California Legislators Endorse Bitcoiner For $500 Billion Pension Board

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California Legislators have endorsed bitcoin nonprofit founder Dom Bei in his campaign for a seat on the board of the California Public Employees’ Retirement System (CalPERS).

CalPERS oversees a massive $500 billion pension fund serving over 2 million public sector retirees. If elected, Bei would be the first openly pro-bitcoin voice on the 13-member board.

Bei is a 16-year veteran firefighter who founded Proof of Workforce, a nonprofit providing bitcoin education to workers, unions and pension funds. He previously served on Santa Monica’s pension advisory board and played a key role in the city’s firefighters union, becoming one of the first to hold bitcoin.

Through his outreach work, Bei has assisted multiple unions, associations and pensions in exploring and adopting bitcoin strategies. This includes spearheading education efforts for the Wisconsin Retirement System.

He stated, “Now more than ever, pension participants and stakeholders need to engage with with their pension funds. I am running for the CalPERS Board of Trustees with the goal of being a conduit for engagement and transparency, while advocating for the long term health and success of the nation’s largest pension fund.”

He received endorsements from a wide range of supporters including the California State Senator Ben Allen, Tony Vazquez of the California Board of Equalization, Santa Monica Mayor Lana Negrete, Vancouver Mayor Ken Sim, President of the Santa Monica Firefighters Local 1109 Garrett Childers and others. This diverse coalition demonstrates the broad appeal of Bei’s message and qualifications.

CalPERS faces growing headwinds with its traditional 60/40 portfolio allocation, struggling amid inflation and rising interest rates. With ballots going out in late August, Bei’s bitcoin credentials could resonate with California’s public workforce seeking new strategies to shore up their retirement security.

His campaign website accepts donations in both fiat and bitcoin.





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