Circle CEO slams Tether for unregulated offshore banking solution

On January 4th, Circle CEO Jeremy Allaire tweeted: "When the industry and the media hyped up future / unlaunched 'stable coins' and central bank digital currencies, the market was speaking for itself. USDC continues to lead (issue (Approximately $ 520 million), PAX was flat at $ 240 million, and TUSD, GUSD, and BUSD were all falling. At the same time, Tether remains the largest stablecoin, providing China and Asia with an unregulated shadow of the offshore dollar Banking solution. Its biggest feature is incompatibility and opacity. When the media ranted about CDEP and Libra, the industry continued to develop. 2020 will continue to be an important year for stablecoins, and mainstream use cases will be established in public companies. On the chain, digital currencies supported by fiat currencies, and DeFi expands the scale of open finance. "Bitfinex CTO Paolo Ardoino responded to Allaire's criticism, saying that in fact Tether's biggest feature is its management capabilities, the ability to create visionary products and listen to customers Tether has understood the needs of the crypto world since 2014. Asia is also an important market, so Allaire should not be generalized. He added that Circle's USDC situation is not good.