New York State regulators

On March 13, Tether Chief Technology Officer Paolo Ardoino tweeted that Tether had no exposure to Signature Bank. According to the previous news, Signature Bank was closed by New York State regulators on Sunday. The Federal Reserve, the FDIC and the US Treasury issued a joint statement saying that all savers who use Signature will be compensated. Tether CTO: Tether has no exposure to Signature Bank Analysis based on this information:Recently, Tether Chief Technology Officer Paolo Ardoino tweeted that Tether had no exposure to Signature Bank. Reports had emerged that the bank was closed by New York State regulators on Sunday. Ardoino’s tweet seems to imply that Tether has no reason to be concerned about the situation. However, the situation at Signature Bank is not without its silver lining. The Federal Reserve, FDIC, and US Treasury have issued a joint statement saying that all savers who use Signature Bank will be compensated. This move is likely to restore confidence among…