Stablecoin issuer Tether plans to double its workforce by mid-2025 to strengthen key areas like compliance and finance.
By expanding its headcount to around 200 employees, Tether aims to better manage the $118 billion in assets backing its USDT stablecoin, according to CEO Paolo Ardoino.
Despite its small team, Tether has grown into a financial powerhouse, generating a net operating profit of $1.3 billion in Q2 2024.
Ardoino emphasized Tether’s focus on maintaining a lean and flexible team, hiring only senior professionals. He criticized companies that rapidly expand their workforce during market booms only to lay off employees during downturns, calling it unfair.
Over the past two years, Tether has invested in companies like Northern Data Group and Bitdeer Technologies Group, with just 15 people managing these investments.
Ardoino remains cautious about expanding the workforce too quickly, preferring a more strategic approach to growth.
Image Credit: Pixabay
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