Tether, the leading stablecoin issuer, is looking to double its workforce by mid-2025, focusing on compliance. CEO Paolo Ardoino revealed plans to grow Tether Holdings Ltd. to 200 employees, emphasizing a lean and flexible approach. The company aims to hire senior staff to enhance monitoring for illicit activities in secondary markets. Tether has faced scrutiny over USDT's misuse and collaborates with authorities to curb illegal practices. Partnering with Chainalysis in May, Tether aims to bolster transaction monitoring. Despite a smaller team, Tether reported a record $5.2 billion profit in the first half of 2024. Ardoino criticized companies that hire excessively during market upswings, only to downsize later. Tether's dollar-pegged stablecoin supply has surged, reaching $115 billion, dominating 70% of the stablecoin market. In comparison, Circle's USDC holds a 21% market share. Read more AI-generated news on: https://app.chaingpt.org/news

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