**Tether Plans Workforce Expansion Amid Record Profits**

Tether, the world's largest stablecoin issuer, is set to double its workforce by mid-2025, focusing on bolstering its compliance team. CEO Paolo Ardoino revealed plans to expand Tether Holdings Ltd. to around 200 employees, emphasizing a preference for senior hires to maintain flexibility and efficiency.

The move comes as Tether faces scrutiny over the illicit use of its USDT stablecoin. The company has partnered with Chainalysis to enhance transaction monitoring and sanctions screening.

Despite a lean workforce, Tether reported record profits of $5.2 billion in the first half of 2024. Its USDT supply has grown over 25% this year, reaching a circulating supply of $115 billion and dominating 70% of the stablecoin market.