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Combination of Trump and Tether could cause big problems, warns Bloomberg
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The combination between the cryptocurrency company Tether Limited and the Donald Trump government in the United States raises serious concerns for the global financial systemaccording to an editorial published by Bloomberg.
The media outlet identified two main points of warning that emerge from this increasingly close relationship.
According to Bloomberg, as the Tether grows and connects with Wall Street companieslike Cantor Fitzgerald, led by Howard Lutnick, future US Secretary of Commerce, the risk that crises in the cryptocurrency market spread for the traditional financial system increases significantly.
Another problem highlighted is the possibility that the growing use of USDT, a stablecoin issued by Tether, facilitates illicit activities. As a stablecoin, USDT seeks to maintain its stable value against the dollar. This makes the attractive digital currency for transactions that avoid government regulations.
Trump, Tether, financial insecurity and illicit activities
As highlighted by Bloomberg, criminals can exploit this facility, undermining counter-terrorism efforts and enforcement of international sanctions.
USDT stablecoin transaction volume more than doubled after Donald Trump’s election, reaching around US$4.6 trillion in November 2024.
This exponential increase highlights the need for regulation. Bloomberg therefore argues that the United States Congress intervenerequiring stablecoin issuers to maintain safe and liquid assets and adopt strict oversight measures and suspicious activity reporting.
In Europe, the new regulation MiCA already restricts the use of USDTforcing cryptocurrency companies to withdraw it from the European market as it does not meet the necessary requirements.
Meanwhile, in the United States, the Trump administration has reportedly maintained meetings with Tether to discuss a billion-dollar support program.
For Bloomberg, the relationship between Tether and Donald Trump’s government presents a critical challenge for the future of cryptocurrencies and the global financial system. According to the news agency, without clear regulation, this combination could potentially destabilize markets and compromise international financial security.
Combination of Trump and Tether could cause big problems, warns Bloomberg
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Combination of Trump and Tether could cause big problems, warns Bloomberg
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Combination of Trump and Tether could cause big problems, warns Bloomberg
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Combination of Trump and Tether could cause big problems, warns Bloomberg
