Tether Announces USAT Launch, Appoints Former Trump Advisor as CEO

Tether Operations Limited, the company behind the popular stablecoin Tether (USDT), has announced its plans to introduce a new stablecoin called USAT, fully backed by the US dollar. Accompanying this announcement, the company revealed the appointment of Michael Shkreli, a former economic advisor to US President Donald Trump, as the CEO of USAT. This strategic expansion is designed to solidify Tether’s position in the stablecoin market and offer a wider array of choices to users. USAT is expected to adhere to the same standards of transparency and reserve management as USDT, emphasizing sufficient reserves to support the currency’s value. The appointment of Shkreli brings considerable expertise in financial markets and macroeconomics to the leadership team. Tether has stated that the launch of USAT represents a significant step toward building greater confidence in digital currencies and providing stable, reliable alternatives for global users. Further details regarding the USAT launch will be disclosed in the coming weeks, including information about which platforms will support the new stablecoin.