Tether, the issuer of the world’s largest stablecoin USDT, has announced the appointment of Jesse Spiro, a former PayPal and Chainalysis executive, as Director of Policy and Regulatory Affairs. In this new Vai , Spiro will be responsible for leading policy efforts and engaging with lawmakers, regulators, and key stakeholders.
Prior to joining Tether, Spiro spent three years at PayPal as Head of Regulatory Affairs for the Blockchain and Digital Currency Business. Prior to that, he also served as Director of Government Relations at Chainalysis, a prominent blockchain analytics company.
“Tether plays a critical Vai in the current and future development of the digital economy and the dominance of the U.S. dollar,” said Spiro. “The ever-changing regulatory and legislative landscape requires close collaboration between the public and private sectors. Through education and engagement, I look forward to collaborating with industry, regulators, and government agencies as we continue to grow Tether and the ecosystem.”
Tether currently issues the stablecoin USDT with a market Capital of $118 billion, according to data from The Block 's USDT price page. The company's quarterly financial report released in July showed a record net profit of $5.2 billion in the first half of 2024. This growth has laid the groundwork for Tether to double its current workforce to around 200 employees by mid-2025.
Recently, Tether has partnered with TRON and TRM Labs to establish the T3 Financial Crimes Unit (T3 FCU), an initiative to foster collaboration between the public and private sectors to combat illegal activities related to the use of USDT on the TRON blockchain.
“We are excited to welcome Jesse to the Tether team,” Chia Tether CEO Paolo Ardoino.
“His extensive knowledge of government relations and blockchain technology will be invaluable as we continue to navigate and grow in a complex and rapidly changing regulatory environment. Jesse’s appointment reaffirms Tether ’s commitment to responsible innovation and Vai in the digital asset space.”
The article Tether Appoints Former PayPal Executive to Lead Policy and Legal Relations appeared first on Coin79 - Coin News Update and Crypto Investment Knowledge .
