USDT’s Growing Dominance of Stablecoins Is Bad for Crypto Markets, JPMorgan Says

“Tether’s market domination may be a ‘negative’ for competitors including those in the banking industry wishing for similar success, but it’s never been a negative for the markets that need us the most,” Tether CEO Paolo Ardoino said in an email after this article was published. “In fact, Tether demonstrated more resilience in a black swan event than several major U.S. banks last year … it seems hypocritical to talk about growing concentration from the biggest bank in the world.”