Tether CEO: JPMorgan analysts did not take into account Tether's $20 billion group equity

PANews February 13th news, according to The Block, in response to a report analyzing Tether reserves and potential regulatory challenges in JPMorgan, stablecoin issuer Paolo Ardoino, CEO of stablecoin issuer, said the bank's analyst "has a heart for the rest of the world." Jealousy, not taking into account its $20 billion group equity in its company in its assessment. "Even in the most extreme cases, JPMorgan ignored the fact that Tether Group has more than $20 billion in stake in other high-liquid assets and the fact that it generates more than $1.2 billion in profits per quarter through U.S. Treasury bonds," Ardoino said. "He added that the company's adaptation to the new regulatory rules "will be straightforward."

Ardoino declined to comment directly on whether Tether needs to sell Bitcoin to comply with the proposed regulatory provisions. Instead, he pointed to his post on X platform, saying that “JPMorgan does not have enough Bitcoin.” Ardoino dismissed JPMorgan's concerns while blaming the bank's analysts. He said: "The analysts at JPMorgan seem a little jealous because they didn't buy Bitcoin at a low price, so they were jealous. But they obviously don't understand Bitcoin or Tether. And they won't have any lower limits anymore. There is an opportunity to buy Bitcoin. No one sympathizes with them. "Ardoino also said that Tether is "closely watching the progress of different stablecoin bills in the United States and actively communicating with local regulators", noting that "industry consultation is needed, and currently It is not clear which bill will move forward.”

Earlier today , JPMorgan released a report saying that Tether may need to sell Bitcoin to comply with proposed U.S. stablecoin regulations.