Tether CEO: Of 14 000 cryptocurrencies, only bitcoin is decentralized
Paolo Ardoino also pointed out that other projects regularly make significant software and tokenomics changes
14.06.2024 - 08:35
141
3 min
0
What’s new? The CEO of Tether, which issues the largest USDT stablecoin by capitalization, has called bitcoin the only decentralized cryptocurrency among more than 14 000 digital assets. In comments to Cointelegraph at the BTC Prague conference, Paolo Ardoino said that bitcoin, unlike other cryptocurrencies, “is only ruled by math that basically cannot be changed.”
What else is known? The senior executive believes that all other cryptocurrencies show signs of centralization to varying degrees. He also added that other projects regularly have development teams that release new versions of software, change tokenomics, and bring other significant changes to coin design.
Ardoino admitted that his opinion on bitcoin’s exceptional level of decentralization may be controversial. He also recalled that he has openly stated that Tether’s assets are centralized, unlike BTC.
USDT accounted for 69% of the inflow of funds into the stablecoin sector over the past 90 days
Overall, stablecoins have raised $16,23 billion since March
In addition, the senior executive criticized meme tokens. Such coins use famous personalities, events, trends, or memes as mascots and tickers, often lacking a roadmap and real-world usage scenarios, and their price depends on community engagement and hype.
Ardoino said he likes memes, but not meme tokens and such assets are “completely at the opposite parts of the spectrum” from bitcoin.
Bybit: The volume of meme tokens in institutional portfolios has grown by 125% since the beginning of the year
DOGE remains the most preferred asset from this category for institutions
Earlier this month, Cardano blockchain creator Charles Hoskinson announced the imminent Chang hardfork, aimed at achieving full decentralization of the project. He called this event a major milestone not only in the history of Cardano but the industry as a whole.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$87 637
BTC
-2.34%
-
Ethereum
$3 046.96
ETH
-3.87%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.365765
DOGE
-6.28%
-
Ripple
$0.806502
XRP
+16.71%
-
Cardano
$0.578875
ADA
+1.48%
-
Bitcoin Cash
$414.75
BCH
-4.42%
-
Polkadot
$4.74
DOT
-5.25%
-
Litecoin
$79.81
LTC
+7.27%
-
Stellar XLM
$0.131242
XLM
+7.66%