Stablecoin issuer Tether intends to double its workforce within the next year to strengthen areas such as compliance. By mid-2025, the company behind the USDT stablecoin anticipates expanding its headcount to approximately 200 employees, according to Chief Executive Officer Paolo Ardoino.
Tether also plans to increase staffing in its finance department, which oversees the $118 billion in assets backing USDT.
Tether’s Workforce Expansion
With a relatively small team, Tether has grown into a financial giant, raking in a net operating profit of $1.3 billion in the second quarter of 2024, fueled by its leading stablecoin. In comparison, major crypto exchanges such as Binance and Coinbase employ large workforces.
Commenting on the same, Ardoino told Bloomberg in an interview on August 8th,
“We are very proud of the fact that we are very lean and we want to remain lean because we want to be flexible. We are very careful when we hire people, we hire only senior people.”
Over the past tw
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