12-8-2025 – Tether CEO Paolo Ardoino has publicly criticized rival Circle’s recent stablecoin moves, describing certain strategies as “moths to a flame” in a post on X. The remark appears to target Circle’s launch of ARC, its new Layer 1 blockchain for stablecoin payments, highlighting growing rivalry in the sector.
Ardoino’s comment reflects Tether’s defensive stance as Circle, backed by a successful IPO, seeks to expand its USDC dominance with ARC’s enterprise-grade features. Tether, holding over half the stablecoin market, faces increasing competition from Circle and others, prompting Ardoino to question the sustainability of rival approaches. The tension underscores a broader battle for market leadership amid regulatory shifts. The exchange could influence investor sentiment toward both companies’ stablecoin offerings.
