Compilation by: KarenZ, Foresight News

This week, Tether CEO Paolo Ardoino engaged in a deep conversation with American entrepreneur and Professional Capital Management founder and CEO Anthony Pompliano, discussing Tether's strategy to enter the U.S. market, plans to launch a U.S.-based stablecoin, and topics such as AI, gold, and brain-machine interfaces. Paolo Ardoino also issued a warning against over-leveraging by Bitcoin treasury companies.

The author has summarized and organized the discussion as follows:

What are Tether's Plans in the U.S.?

Paolo Ardoino: The recently passed "Genius Act" has driven Tether to explore the U.S. market and has created a level playing field for all other financial institutions as well. Tether holds over $127 billion in U.S. Treasury bonds, recently surpassing South Korea to become the 18th largest U.S. Treasury bond holder. It is expected to surpass another country by the end of the year, even though it sounds crazy compared to nations, but that's the fact. We may be one of the best allies in the U.S. Tether plans to launch a domestic stablecoin in the U.S. At that time, U.S. banks and financial institutions will also collaborate with Tether, leveraging Tether's global distribution network to onboard new customers and revenue streams.

For example, in Nigeria, the financial infrastructure efficiency is between 10% and 20%, while in the U.S., this figure is 90%, nearly perfect. Therefore, if the quality of financial transfer in Nigeria can be improved to 50%, but in the U.S. it can only be increased from 90% to 95%. Since the proportion of underserved populations by U.S. banking services is relatively small, Tether's products for the U.S. market must be unique.

What is the Difference Between USDT and the Tether U.S. Domestic Stablecoin?

Paolo Ardoino: USDT mainly serves emerging markets (such as Latin America, Africa, Southeast Asia), helping local users bypass inefficient financial infrastructures and acting more as an international stablecoin. However, USDT may not necessarily be most effective in the U.S. market.

The U.S. domestic stablecoin is designed specifically for the U.S. market, optimizing the user experience to align with the mature U.S. financial system (such as partnering with banks, enhancing payment efficiency).

What is the View on Gold and Bitcoin?

Paolo Ardoino: I have said many times, there is nothing better than Bitcoin. Bitcoin is perfect. Bitcoin holders mistakenly think of gold as Bitcoin's competitor, but that is not the case. If investors believe Bitcoin is at a market cycle peak and want to temporarily exit, converting Bitcoin to gold is more reasonable than converting it to dollars, as gold can better maintain purchasing power (dollars may be eroded by inflation). If a global financial reset occurs in the next 5 years (such as the collapse of the fiat system), gold's $20 trillion market cap (far exceeding Bitcoin's current scale) could make it a more accepted transitional asset by the traditional market, while Bitcoin needs time to increase in size.

What is the View on the Bitcoin Treasury Company?

Paolo Ardoino acknowledged the market role of the Bitcoin Treasury Company, but also expressed concerns about some aggressive strategies (such as excessive leverage), etc. Ultimately, the industry will undergo consolidation and reorganization.

Tether+ Brain-Machine Interface

Paolo Ardoino: By the end of April 2024, Tether invested $200 million in Blackrock Neurotech. Blackrock Neurotech has the best brain-machine computer interface technology, with a new generation chip technology that offers a 100x performance improvement. Blackrock Neurotech is headquartered in Utah, with a very lean team.

Blackrock Neurotech is committed to ensuring that brain-machine interface technology benefits humanity, is used for humanity, and prevents robots from replacing humans.

What is the View on the Current Macroeconomic Situation?

Paolo Ardoino: The U.S. is currently in a very strong position, optimistic about the global trend of stablecoin dollarization. The U.S. has pursued its own interests through tariff policies, which, while having a significant short-term boost to the U.S. economy, may have negative effects on other countries. Europe was early to start but ineffective in digital asset regulation, failing to seize the technological opportunity to expand the global influence of the Euro. Currency devaluation and economic fragility in impoverished countries are rising, and tools like USDT provide a "Plan B" for people in these regions, mitigating the impact of local currency fluctuations. Tether is not only investing in gold but is also venturing into areas such as land and agriculture, AI, brain-machine interfaces, etc.

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