Tether CEO mocks JPMorgan over stablecoin demand skepticism

Tether CEO Paolo Ardoino dismissed comments from JPMorgan co-president Doug Petno, who claimed institutional demand for stablecoins remains limited. Ardoino compared the bank's stance to a lack of demand for imported ice at the North Pole, highlighting Tether's current market capitalization of approximately $183 billion. Petno had previously cited regulatory and interoperability hurdles as reasons for the bank's cautious approach to stablecoins.