Why Tether’s CEO Refuses to Play the Public Company Game – A Bit of Lordly Humility? 🤔

by

In a quiet manor of the financial world, Paolo Ardoino, the eminent Tether CEO, declared with a nonchalant shrug that the stablecoin giant has no wish to step onto the public stage. Just a few days past, a rival—Circle—made its debut upon the New York Stock Exchange, dazzling the crowds and, presumably, the stockbrokers. But Ardoino? He’s unconcerned, as if he were discussing a mere trifle, not a matter of national importance.

“No need to go public,” he chimed on June 7, as if offering a simple apology for skipping the dancing. Meanwhile, the touts and speculators, led by Artemis’s CEO Jon Ma, pondered aloud about the immense riches that could be—oh, so easily!—obtained. Ma claimed that if Tether, that mysterious guardian of USDT, dared to face the great marketplace, it would be crowned the 19th largest enterprise, worth a staggering $515 billion—more than giants like Costco or Coca-Cola, no less. One can only imagine the scandal in the boardrooms and the whispers among the clerks.

$515 billion is a “beautiful number,” but not high enough

Ah, the beauty of a number! Ardoino called the $515 billion valuation “beautiful,” as a man might admire a fine painting or a well-cooked pirozhki. Yet, immediately, he hinted it might be too modest by half—perhaps a bit “bearish,” as the financiers like to say. Considering their vaults bulging with Bitcoin and gold, the CEO seemed to nod with humility, though one suspects there’s a touch of irony amid his modesty—perhaps he, too, enjoys the game of inflated dreams.

Two earnest advocates of the cryptocurrency world, Pompliano and Mallers, nodded vigorously and proposed the unthinkable: one trillion dollars! Heaven preserve us! The possibility of such wealth, apparently, is merely a matter of time, and probably a good deal of champagne too.

Financial Chart with a Touch of Humor

Ardoino, in the same breath, expressed his “true excitement” for the upcoming chapter in the story of his enterprise. One wonders whether his excitement is genuine or merely a polite nod to the gods of finance. Tether’s USDT now ranks as the third-largest cryptocurrency—marvelous! Valued at $154.83 billion, it quietly dominates the market, like a dignified bourgeois at a ball.

Meanwhile, on the 5th of June, the rivals, Circle—masters of the USDC—made a grand entry onto the NYSE. Their shares soared by 167% on the first day, much to the chagrin of those who still believe stocks are the true measure of human worth. It was, quite simply, a show to behold, as if the circus had arrived in Wall Street.

And the plot thickened! On April 24, whispers spread that Tether would become the proud owner of Twenty One Capital, an institution founded by Mr. Mallers himself. Now, this young company has swiftly climbed the ranks to hold the third-largest Bitcoin stash in the world—behind only the behemoth MicroStrategy and the industrious MARA Holdings. One might say they’re stockpiling Bitcoin as a squirrel stores acorns—preparing for winter that may never come.

Just recently, on June 3, it was reported that Tether, ever the generous holder, moved nearly 37,230 Bitcoin—worth about four billion dollars—to new digital addresses. The money, like an uninvited guest at a feast, quietly migrated, perhaps waiting for the right moment to come back and surprise everyone.

Read More

2025-06-08 09:16