🚀 Tether Plans Major Team Expansion
posted 9 Aug 2024
Tether, the issuer behind the USDT stablecoin, is planning to double its headcount over the next year to better meet regulatory demands. This expansion will bring the company’s workforce to around 200 employees. The financial department, responsible for managing the company’s $118 billion in reserves, will also see the bolstering.
CEO Paolo Ardoino emphasized that Tether is committed to hiring experienced professionals and steers clear of aggressive hiring practices. For example, only 15 people currently handle Tether's investments, including its involvement with Bitdeer Technologies Group, a U.S.-based mining company.
There is nothing that I hate more than all those companies, especially Silicon Valley companies, that hire hundreds of people during the bull runs to fire them as soon as there is a downturn in the market,Ardoino remarked.
Despite its relatively small team, Tether displayed remarkable financial performance, with $1.3 billion in profits for Q2 2024. Recently, the company has focused on preventing the illegal use of USDT and enhancing collaboration with global law enforcement agencies.
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