Connect with us
  • tg

Cryptocurrency

Bitcoin Halving and Approved BTC ETF Will Enhannce Adoption: Tether CEO Paolo Ardoino (Interview)

letizo News

Published

on

Will Tether go public any time soon? What are the new CEO’s plans for the company? What is keet io? Why is the Bitcoin Lightning network the best BTC payment solution? These and many more questions were answered by Paolo Ardoino, the new chief exec of the company behind the world’s largest stablecoin, in a recent interview with CryptoPotato.

Additionally, he spoke about another project of his – keet io, which serves as a peer-to-peer web conferencing tool.

Last but not least, Ardoino gave his two cents about BTC’s current rally, the halving, and whether or not there will finally be a spot Bitcoin ETF in the US.

Changes in Tether

During the first interview Ardoino had with CryptoPotato almost two years ago, the then-CTO refuted the claims that the company had any intentions to go public, similar to many other US-based digital asset firms, like Coinbase, which did so during the previous bull market.

A lot has changed in Tether since then, including Ardoino assuming the main executive position at the firm in October of this year. On the question of whether or not the company has changed its tune on going public, the new CEO said now:

“As I have stated previously, Tether is not planning to go public. Our focus remains on our mission, which is to serve a diverse range of customers worldwide, particularly those in emerging markets. We believe that our efforts should be concentrated on delivering value to our customers rather than pursuing short-term profits for shareholders.”

Speaking about his new role and responsibilities, he outlined his commitment to “transforming Tether into a technology-focused company,” with its main goal being real-world ecosystem growth in many key areas. This goes beyond stablecoins into areas like communications, data, AI, renewable energy, and Bitcoin mining.

He explained that the decision to take the leadership role at Tether was a “strategic” one before adding:

“We are leveraging our dominant position in the stablecoin industry to pursue other areas of focus such as peer-to-peer communications, renewable energy, resilient data storage, and bitcoin mining. This transition was a natural progression, considering my involvement in leading Tether’s expansion strategy over the last couple of years.”

tether

Bitcoin ETF in the States?

Arguably, the two most talked-about upcoming events for 2024 in the crypto industry are the Bitcoin halving and the potential approval of the first spot BTC ETF in the States. Ardoino weighed in on the matter, highlighting the halving’s positive effects on the entire ecosystem:

“In 2024, the upcoming Bitcoin halving event is poised to amplify the network’s resilience, further cementing its position as a cornerstone of the cryptocurrency ecosystem. Historical data from previous halvings showcases a consistent pattern: each halving has triggered substantial increases in Bitcoin’s value.”

When it comes down to future price increases after the event, Tether’s CEO added that there have been such movements in the past, which were “scarcity-driven.” After all, the BTC block rewards are slashed in half after each event, and the pre-programmed inflation decreases.

Ardoino believes the upcoming fourth halving will also help BTC in terms of global adoption due to increased media coverage and growing interest from institutions and will solidify the cryptocurrency “as a formidable asset class within the broader financial landscape.”

Nevertheless, he warned that investors should do comprehensive research of their own before allocating any funds to investment assets.

In terms of the widely-anticipate ETF, Ardoino said:

“I believe the prospects of the SEC approving a spot Bitcoin ETF are promising. The growing interest in Bitcoin from institutional investors, as evidenced by the recent surge in Tether issuance, is indicative of the market’s readiness for such a development. The potential approval of a Bitcoin ETF could further catalyze institutional adoption and bring more legitimacy to the crypto space.”

His Role at Keet Io

Aside from his well-known role at Tether, Ardoino is also the co-founder and CSO of keet io. He described the project as a “P2P web conferencing tool that aims to redefine digital communications.”

It’s an alternative to Zoom but operates as a decentralized, censorship-resistance, and user-empowering platform.

“Keet.io is incubated by Holepunch, a platform for creating apps, with support from Tether. Our technology is based on “Holepunch,” which enables the creation of distributed networks. These networks eliminate single points of failure while giving individuals ownership over their data and communications. This represents a significant paradigm shift as concerns grow around data harvesting and censorship of centralized services.

Keet io plans to launch a free, open-source platform on February 14 this year, which will allow “anyone to build P2P versions of popular apps, like YouTube or Uber for people to use.”

The project has already incorporated a few payment features, such as USDT and Bitcoin Lightning. He outlined keet io’s reasoning:

  • Firstly, Bitcoin Lightning offers a significant advantage in terms of transaction speed. Lightning Network is the best scalability layer available for Bitcoin payments and offers a real-time user experience that is suited for a real-time communication app like Keet.
  • Secondly, Bitcoin Lightning also provides cost efficiency. Traditional on-chain transactions can sometimes involve substantial fees, which can be a deterrent for users. By leveraging the Lightning Network, we can minimize these costs, making it a more attractive option for our users.
  • Lastly, the use of Bitcoin Lightning aligns with our commitment to promoting decentralization. Keet.io is built on the principles of peer-to-peer technology, emphasizing user empowerment and censorship resistance. Bitcoin Lightning, being a peer-to-peer network itself, fits well with our ethos.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

Cryptocurrency

Crypto Analyst Says Altcoins May Take 2 Months to Recover, Here’s Why

letizo News

Published

on

With the current state of the market, after one of the largest liquidations in the history of the crypto industry, an analyst is insisting that altcoins could take two months to recover from the gains they have shed over the last couple of days.

According to a tweet by crypto and stock market analyst Matthew Hyland, it is unlikely that altcoins will see a straight recovery within the next few days. Judging by past data, the cryptocurrencies could even take more than two months to find their way back up.

Altcoins Need 2 Months to Recover

Following bitcoin’s (BTC) $10,000 price slump over the weekend and into Monday, the altcoin market bled out, with many registering massive double-digit declines within hours. This market wipeout was triggered by United States President Donald Trump imposing tariffs on Canada, Mexico, and China.

The trade tariffs announcement led to one of the largest dumps in crypto history, with over 700,000 traders liquidating for more than $2.3 billion and the crypto market cap plummeting by at least 12% within a day.

Although the broader crypto market has shown signs of recovery within the last 24 hours, especially with President Trump temporarily pausing the tariffs against Canada and Mexico, most cryptocurrencies are still far from their pre-weekend levels.

Hyland stated that it is likely that the low is in for this cycle. He cited a similar liquidation event seen in 2020 during the COVID-19 crash, explaining that altcoins took more than two months to recover from the decline they saw at the time fully.

No High Expectations

Furthermore, the analyst highlighted more recent market liquidations witnessed during the TerraLuna dump in mid-2022 and in the aftermath of the bankrupt crypto exchange FTX implosion in late 2022. He asserted that recovery from previous experiences all took months.

Hyland urged crypto traders to keep their expectations “tempered” because they will not see the price highs recorded by most altcoins in December 2024 for at least two months. Bearing in mind that the crypto market is unpredictable and “can do anything,” Hyland still insisted that traders should expect the recovery to take time.

“I will gladly be wrong, but assuming there will be a straight recovery within days is just not likely and will probably make you uneasy if it doesn’t happen. Even a V shape like 2020 took weeks with many dips on the way back up,” the analyst stated.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Cryptocurrency

Arthur Hayes Slams US Bitcoin Reserve Plans and Crypto Regulation Efforts

letizo News

Published

on

BitMEX co-founder Arthur Hayes has dismissed the idea of a U.S. Bitcoin reserve, calling it a politically driven and impractical concept.

In his February 5 essay called “The Genie,” Hayes argued that government stockpiling of the cryptocurrency would serve political interests rather than financial stability.

Bitcoin Reserve Would Be a Political Tool

“What can be bought can be sold,” he wrote, warning that politicians acquire assets for short-term gains. While some see Bitcoin as the “hardest” form of money, he pointed out that the U.S. government has no fundamental economic use for it. Instead, he suggested that political leaders would exploit its price fluctuations to serve their agendas rather than embrace its ideological underpinnings.

Hayes criticized Senator Cynthia Lummis’s proposal for a Bitcoin Strategic Reserve (BSR), arguing that if President Trump were to authorize the purchase of one million BTC, prices would rise temporarily but stall once buying stopped.

He also predicted that if the head of state failed to address major voter concerns like inflation, foreign conflicts, and corruption, Democrats could regain power in 2026. If they did, they would likely view the Bitcoin reserve as a convenient source of funds and sell it off to finance new policies. According to him, this would create uncertainty about the future of the government-held BTC, undermining confidence in the market.

The former exchange executive also questioned whether the administration would engage with Bitcoin beyond holding it as a passive asset. “Would they run nodes? Sponsor developers? Or just treat it like a trophy?” he asked.

Hayes further accused Trump’s team of using Bitcoin’s volatility to secure political gains, suggesting the reserve could become a tool for campaign fundraising.

Discussions about a federal Bitcoin reserve gained momentum after the President announced a sovereign wealth fund, with Lummis hinting that it could be used to buy Bitcoin. Prediction market platform Polymarket currently places the odds of a U.S. Bitcoin stockpile before the end of 2025 at 46%.

Regulatory Complexity

Hayes also spoke on crypto regulation, condemning what he called the “Frankenstein crypto bill.” He argued that any new framework would likely be excessively complex and prescriptive, favoring only the largest players in the industry who could afford the high costs of compliance.

He explained that investors with large stakes in centralized financial firms are the most likely to push for regulation, as they have the influence to shape policy in their favor. In contrast, developers in decentralized finance lack the resources to lobby for their interests.

The crypto investor warned that regulatory compliance would be affordable only to firms with deep pockets like Coinbase and BlackRock, reinforcing monopolies rather than creating competition. He also cautioned entrepreneurs against relocating to the U.S. for regulatory clarity, arguing that systemic corporate interests would stifle innovation and block smaller players from succeeding.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Cryptocurrency

Dubai to Host Second Edition of Middle East Blockchain Awards as MENA Drives Global Crypto Growth

letizo News

Published

on

[PRESS RELEASE – Dubai, United Arab Emirates, February 6th, 2025]

The Middle East Blockchain Awards (MEBA) returns for its second year after the success of its inaugural edition, with Dubai selected as the host city. The ceremony will take place at the iconic Jumeirah Burj Al Arab on April 29, coinciding with the TOKEN2049 conference. The event will unite industry leaders, innovators, and visionaries to celebrate achievements in blockchain and cryptocurrency.

MEBA 2025 arrives at a pivotal moment amid the rapid acceleration of blockchain adoption across the MENA region. Recent data from Chainalysis positioned the region as the seventh-largest cryptocurrency market in the world. Between July 2023 and June 2024, MENA received an estimated on-chain value of $338.7 billion—accounting for 7.5% of the global transaction volume.

Notably, the UAE has emerged as a global leader in digital asset adoption. According to Henley & Partners’ latest report, the UAE ranks third worldwide in digital currency usage. Chainalysis data also revealed that the UAE received approximately $34billion in cryptocurrencies between June 2023 and July 2024, experiencing a robust 42% year-on-year growth. This is driven by the country’s progressive approach to blockchain technology, with cities like Dubai establishing themselves as key innovation hubs.

Max Palethorpe, Founder and CEO of Hoko Group, the official organizers of MEBA, commented: “The Middle East Blockchain Awards provides a unique platform to recognize the incredible achievements that are driving the next wave of innovation in blockchain and digital transformation. With the UAE leading the charge in the Web 3.0 revolution, it’s inspiring to see industry leaders coming together to shape the future of this dynamic industry. This year’s event promises to be a true celebration of the pioneers who are pushing boundaries and setting new standards.”

Returning as a judge for the second consecutive year, Dr. Marwan Al Zarouni, CEO, AI for Dubai Department of Economy and Tourism and CEO of Dubai Blockchain Centre (DBCC) added: “I am thrilled to be part of the judging panel once again and witness the rapid evolution of blockchain technologies in the MENA region. With the UAE at the forefront of this transformation, the government’s forward-thinking approach, combined with the region’s dynamic innovation ecosystem, is accelerating the adoption of Web 3.0 technologies. The Middle East Blockchain Awards captures this momentum and further cements the UAE’s position as a global hub for blockchain excellence.”

Other judges of the Middle East Blockchain Awards this year include:

●     Jumana Al Darwish, Award Winning Social Entrepreneur and Founder of Happy Box

●     Scott Melker, Host, The Wolf of All Streets Podcast, and Crypto TownHall

●     Mario Nawfal, Host of Largest Show on X and Founder of International Blockchain Consulting Group

●     Saqr Ereiqat, Secretary General of Dubai Digital Assets Association and Co-Founder of Crypto Oasis

●     Jorge Sebastiao, Co-Founder Global Blockchain Organization and Co-Founder EcoX

●     Matthies Mende, Founder and CEO of Bonuz and Co-Founder of Dubai Blockchain Center

MEBA aims to foster innovation, recognize excellence, and set new standards for blockchain and Web 3.0 projects across the region. In its inaugural edition in 2022, MEBA partnered with Abu Dhabi Global Market’s flagship platform, Abu Dhabi Finance Week, and the Middle East, Africa, and Asia Crypto and Blockchain Association (MEAACBA).

Submissions are now open at www.mebawards.io, where participants can find additional details about the categories and the nomination process.

About Hoko Abu Dhabi

Hoko Agency is a diversified and innovative company that owns and operates a diverse portfolio of businesses within the sectors of Finance, Blockchain, Entertainment, Sport and F&B. Hoko strives to be the best-in-class in each of their service lines; offering quality products, world class service and fitting solutions that go beyond the industry’s expectations.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved