Tether Hires Former Chainalysis Chief Economist to Boost Transparency
Tether, the world’s most traded cryptocurrency, has hired Philip Gradwell, a former Chainalysis Chief Economist, as its new Head of Economics. This move is seen as a significant step towards improving transparency and engaging with regulators.
Gradwell’s Role at Tether
Gradwell’s responsibilities will include:
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- Ensuring Tether’s transparency
- Engaging with US and global regulators
- Improving discussions about cryptocurrency’s role in the real-world economy
Addressing Regulatory Concerns
Tether has faced criticism for its lack of transparency regarding audits and reserve figures. This new hire signals a commitment to addressing these concerns and building trust with regulators.
Shaping the Perception of Digital Assets
Gradwell aims to “shift the conversation” about digital assets and showcase their potential to exist alongside traditional financial structures. He believes that by demonstrating the real-world use cases of cryptocurrencies, particularly stablecoins, public perception can be changed.
Tether’s Commitment to Transparency
Tether CEO Paolo Ardoino expressed enthusiasm about the new hire, emphasizing Gradwell’s expertise in helping Tether further understand its role in supporting the US dollar.
Gradwell’s appointment is a positive development for Tether and the broader cryptocurrency ecosystem. It signals a growing commitment to transparency and engagement with regulators, which is essential for the long-term success of the industry.
