Paolo Ardoino, Tether CEO, officially denied that the company is building its own blockchain or plans to do so, contradicting a widely shared analysis placing the stablecoin issuer in a race exceeding one billion dollars. The company funded Plasma and Stable networks but does not operate either of them, he stated. According to CoinMarketCap research, USDT holders pay approximately $2.9 billion per year in fees on external chains. Tether chose to maintain its multi-network strategy which ensures $183 billion market cap liquidity across dozens of platforms. This strategic decision comes as Circle gains ground in key national markets with USDC and Europe forced USDT’s removal after Revolut’s delisting under MiCA.
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