Tether recently announced the appointment of Philip Gradwell, the former chief economist at Chainalysis, to serve as the head of economics at Tether. Gradwell brings over six years of experience in analyzing blockchain data and will be responsible for quantifying the Tether economy for regulators.
As the largest stablecoin in circulation, Tether has a market capitalization exceeding $112 billion. Tether’s USDT token is designed to mirror the value of the U.S. dollar on the blockchain, providing users with a stable digital asset for transactions and investments.
In his new role, Gradwell aims to deepen the understanding of how digital assets, including USDT, are utilized in the real economy. He also seeks to highlight the role of Tether in supporting the dominance of the U.S. dollar in the global financial system.
“My goal at Tether is to shift the conversation towards a more comprehensive view of how digital assets impact real-world economic activities. By shedding light on the practical applications of USDT and its contributions to the strength of the U.S. dollar, we can provide valuable insights to regulators and stakeholders,” Gradwell stated.