Tether, the issuer of the popular stablecoin USDT, says a new Head of Economics has been appointed to oversee things at the exchange. The new appointee is Philip Gradwell. Gradwell is coming onboard Tether with six years of experience as Chief Economist at Chainalysis, the analytical firm.
According to report, Gradwell key responsibility at Tether will include quantifying the Tether economy to regulators and critical stakeholders. He will also need to clearly communicate the uses of Tether to interested entities.
Strengthening Tether Compliance With Chainalysis
Speaking on the appointment, Paolo Ardoino, Tether CEO expressed excitement at Gradwell joining the Tether team. He maintained that Gradwell’s experience and previous track record qualifies him to shake things up at Tether.
Notably, Gradwell will be leading the economic analysis efforts of Tether. Additionally, Gradwell will evolve ways to support the U.S. dollars which the Tether’s USDT is paired on a one-to-one basis. According to Ardoino, Gradwell’s experience and skills is required to broaden the Tether’s understanding of supporting the U.S. dollar.
Demystifying Digital Assets
The target of Tether is to broaden the general knowledge of the vast majority of people who consider digital assets an unknown area defying understanding. Ardoino says Tether hopes to drive the conversation to how to help people understand the real world economic value and use of digital assets.
He is optimistic that the new team at Tether will help demystify digital assets as just technology based and help project the practicality of it. Essentially, it will clarify how the USDT is assisting in dollar supremacy.
Tether’s Expansion into Artificial Intelligence
Notably, in a recent development, stated that it will launch synthetic dollar and make its tokenization platform accessible to the public. According to Tether CEO, individuals will have the ability to create fresh tokens through the company’s latest platform Alloy, an integral component of Tether’s forthcoming tokenization initiative.
Meanwhile, beyond just crypto, Tether is expanding to other spheres, notably, Artificial Intelligence. At the 2024 Token2049 Dubai Conference, Ardoino had hinted at the upcoming increase in AI-driven investments and the need to plug in. Tether had also injected approximately $200 million capital into the AI space via Blackrock Neurotech which specializes in Brain-Computer Interface (BCI) technology.
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