PANews reported on February 13 that according to The Block, in response to a JPMorgan report analyzing Tether's reserves and potential regulatory challenges, Paolo Ardoino, CEO of the stablecoin issuer, said that the bank's analysts were "jealous" and did not take into account the company's $20 billion group equity in the assessment. Ardoino said: "Even in the most extreme case, JPMorgan Chase ignored the fact that the Tether group has more than $20 billion in equity in other highly liquid assets and generates more than $1.2 billion in profits per quarter through U.S. Treasuries." He added that the company's adaptation to new regulations "will be straightforward."

Ardoino declined to comment directly on whether Tether would need to sell Bitcoin to comply with the proposed regulations. Instead, he pointed to his post on the X platform, saying that "JPMorgan doesn't have enough Bitcoin." Ardoino dismissed JPMorgan's concerns while blaming the bank's analysts. "Those analysts at JPMorgan seem a little jealous because they didn't buy Bitcoin at a low price, so they are jealous. But they obviously don't understand Bitcoin or Tether. And they won't have the opportunity to buy Bitcoin at a low price again. No one sympathizes with them." Ardoino also said that Tether is "closely following the progress of different stablecoin bills in the United States and actively communicating with local regulators," noting that "industry consultation is needed and it is not clear which bill will move forward."

Earlier today , JPMorgan Chase released a report saying that Tether may need to sell Bitcoin to comply with proposed stablecoin regulations in the United States.