- Tether will scale the number of employees to approximately 200 by mid-2025, with significant investment in the development, investment, and compliance departments.
- With a $5.2 billion profit in the first half of 2024, Tether is reinvesting in its human resources to navigate the growing demands of the stablecoin market.
- Tether has expanded due to the competition presented by competitors, such as Circle’s USDC.
Tether, the company behind the biggest stablecoin USDT, plans to double its employees by mid-2025 and will hire around 200 people. This comes amid when it is now recording profit for Tether and a steadily growing expansion.Under review Tether had a growth of $5.2 billion in the first half of 2024. Paolo Ardoino, the CEO of the company, has disclosed a plan to improve the developers, investors, and compliance of its operations to spur growth from the growing user base.
Strategic Expansion Amid Market Success
Even today, Tether controls its staff and has less than 100 workers, which may not be impressive.In terms of stablecoins, Tether has managed to maintain its position as a leading player in the stablecoin market.With a market capitalization of $2.179T, USDT remains firmly occupying a leading position in the market.
Arduino stressed that Tether has organically focused on developing solutions and processes in response to the complexities of the digital asset market. With also external cooperation while leveraging technological enablement to achieve efficiency in business processes. The growth and profitability levels completed have been unprecedented and have forced the company to question the best way it needs to operate.
Tether’s human resource plans indicate that the company intends to scale up its staff by mid-2025, emphasizing its development and compliance departments. This expansion plans to provide the company with the necessary tools to combat a new wave of regulatory frameworks and combine them with flexibility and dynamism in investment initiatives. This means that the decision to expand is viewed as the organic development of the internal growth model and a reaction to competition in the stablecoin market.
The success experienced by Tether has attracted competition, with Circle’s USDC being the most significant competitor. Arduino also understood the level of competition in terms of stablecoins, stating that due to the success of USDT, others have looked to get their slice. He regards this competition as a positive factor, pointing to the fact that overhead is in the general stability and credibility of the sector.
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