"Tether and Circle, Future of Stablecoins Likely to be Determined by Competition Results"

Recently, the Wall Street Journal (WSJ) analyzed the contrasting styles of the two companies' CEOs and corporate directions, stating that "Tether (USDT) and Circle, the issuer of USD Coin (USDC), are competing to gain an advantage in promoting regulation of the U.S. stablecoin industry."

The media reported, "While Tether Chairman Giancarlo Devasini lives quietly in Lugano, Switzerland, Circle co-founder Jeremy Allaire prefers to mingle with politicians and Wall Street executives," adding, "Also, Tether embraces the free-spirited nature of cryptocurrencies, while Circle follows mainstream acceptance through regulation."

The outlet continued, "The outcome of the competition between these two companies will shape the future of stablecoins," explaining, "If regulators succeed in ousting Tether, Circle's USDC market share would expand and could bring stablecoins into the existing financial system."

Furthermore, "If Tether survives, it would strengthen the ability to operate cryptocurrencies outside centralized influence, just as it has shown resilience by overcoming past concerns about commercial paper," adding, "Either way, the risks will be significant as they compete in an industry worth trillions of dollars."