Samson Mow, CEO of Pixelmatic, has sharply criticized the fear, uncertainty, and doubt (FUD) surrounding Tether (USDT) following news of its potential delisting from cryptocurrency exchanges within the European Union. Mow argues that such concerns are misplaced, given Tether’s significant market position and crucial role in the global cryptocurrency ecosystem.
In a recent statement, Mow pointed to Tether’s impressive $143 billion in assets under management (AUM), positioning it as a major holder of US treasuries, surpassing all but 18 countries. He emphasized Tether’s banking relationship with Cantor Fitzgerald, whose CEO, Howard Lutnick, is a prominent figure often mentioned as a potential future US Commerce Secretary.
Mow further highlighted Tether’s dominance in the stablecoin market, boasting 16 times the trading volume of its closest competitor, USD Coin (USDC). He emphasized Tether’s importance to hundreds of millions of users, particularly in the Global South, where access to traditional financial services may be limited.
Dismissing the delisting concerns as either uninformed or agenda-driven, Mow drew a stark contrast between Tether’s history and that of some of its competitors. He reminded the community of alleged attempts by individuals behind Coinbase and Circle (the issuer of USDC) to fork Bitcoin and gain control over the network. Conversely, Mow credited the individuals behind Tether with playing a key role in defeating these “fake Bitcoin forks” by opening chain split markets.
