Tether CEO launches new US-based stablecoin

Tether is known as the world's largest stablecoin issuer. Recently, Tether announced USA₮, a proposed U.S.-regulated, dollar-backed stablecoin, and appointed former White House aide Bo Hines to be its future CEO. This move makes a strong statement regarding Tether's priority of transparency, governance, and U.S. regulatory attention from the get-go. USA₮ will be designed to qualify for the GENIUS Act, the new United States law for stablecoins. This regulation provides a robust framework within which the ...