Tether, the company behind the stablecoin USDT, has appointed Philip Gradwell as its new Head of Economics. Gradwell previously worked for blockchain analytics firm Chainalysis for over six years.
From Blockchain Analysis to Stablecoin Economics
Gradwell, who spent over six years as Chief Economist at Chainalysis, brings a wealth of experience in digital asset analysis to his new role at Tether.
His primary responsibilities will include quantifying the Tether economy and communicating its impact to regulators and stakeholders.
Tether CEO Paolo Ardoino emphasized the importance of this appointment, stating, “Philip’s expertise will enable Tether to bring even further understanding to our indispensable role in supporting the dollar.”
Gradwell himself expressed his vision for the role, aiming to shift the conversation around digital assets from technological specifics to practical economic use cases.
“My goal at Tether is to shift this conversation towards understanding how digital assets are used in the real economy, and how USDT is supporting dollar hegemony,” he explained.
This appointment comes at a crucial time for Tether. The stablecoin issuer seeks to strengthen its relationship with regulators and enhance its credibility in the traditional financial world.
As per CoinGecko data, USDT’s economic impact is substantial, with over $112 billion in market capitalization. While USDT has been criticized for its large-scale use by money launderers, Tether is collaborating with and helping regulators around the world curb this.
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