Tether Plans to Increase Its Workforce by Mid-2025

🚀 Stay Ahead with AltcoinDaily.co! 🌐

Tether Holdings, the issuer of the world’s most widely used stablecoin USDT, has announced ambitious plans to double its workforce by mid-2025, aiming to strengthen its compliance with evolving regulatory requirements. In an interview with Bloomberg, Tether’s CEO, Paolo Ardoino, emphasized that this expansion is part of the company’s broader strategy to enhance its ability to monitor and combat illicit activities related to its stablecoin in secondary markets.

Tether’s Staff to Get to 200 Soon 

Ardoino acknowledged the challenges of ensuring that USDT, which is widely used in global transactions, is not misused for illegal purposes. He noted that the increasing scrutiny from regulators worldwide necessitates a more robust approach to compliance. The expansion will increase Tether’s staff to approximately 200 employees, a significant growth from its current size.

Ardoino mentioned that Tether is exploring advanced technological tools that can automate the monitoring process, to effectively address these challenges. These tools are expected to provide real-time insights into transactions involving USDT, enabling Tether to detect and respond to suspicious activities more swiftly. 

  🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰

The decision to expand Tether’s workforce comes at a time when Tether continues to face scrutiny over the potential misuse of USDT in illicit activities. In January, Tether fired back at the United Nations over a report wherein the intergovernmental organization recognized the stablecoin as a means of fraud. 

However, Tether highlighted its collaborations with multiple regulatory authorities in the United States like the Department of Justice (DoJ), Federal Bureau of Investigation (FBI), and United States Secret Service (USSS) noting that it has offered “unparalleled monitoring surpassing traditional banking systems.”

Tether Appoints Former Chainalysis Economist

Last month, Tether appointed a new Head of Economics to oversee the exchange. The new appointee, Philip Gradwell, has six years of experience as Chief Economist at Chainalysis, the analytical firm. According to the report, Gradwell’s key responsibility at Tether will include quantifying the Tether economy to regulators and critical stakeholders. 

 🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀

He will constantly communicate the uses of Tether to interested entities. Additionally, Gradwell will evolve ways to support the U.S. dollars which the Tether’s USDT is paired on a one-on-one basis. Meanwhile, the target of Tether is to broaden the general knowledge of the vast majority of people who consider digital assets an unknown area defying understanding. 

Tether Expands its Services

Slow and steady, USDT issuer is expanding its services across other industries including Artificial Intelligence (AI). Recall that Tether unveiled a bold strategic expansion plan to intensify its focus on AI technology. Shortly after, Tether’s capital injection into the AI space was made to Blackrock Neurotech which specializes in Brain-Computer Interface (BCI) technology. 

Approximately $200 million was invested in the company a few months ago. During the 2024 Token2049 Dubai Conference, Paolo Ardoino, Tether’s CEO hinted at the upcoming increase in AI-driven investments. Generally, this expansion across several borders is focused on establishing the stablecoin issuer. The firm is also looking towards the education sector.

 🔍 Your Crypto News Hub: AltcoinDaily.co! 🌐