By mid-2025, Tether, a stablecoin issuer, intends to double its personnel to broaden its financial potential and compliance. According to CEO Paolo Ardoino, Tether Holdings will shortly surpass 200 senior staff members, while the currency has 100 employees.
Ardoino stated in an interview with Bloomberg that the staff expansion would facilitate Tether’s expansion in sectors such as finance and compliance.
Nevertheless, Ardoino expressed his reluctance to overextend the workforce.
“We are extremely selective in our hiring process; we exclusively recruit senior professionals,” he told the publication.
“There is nothing that I hate more than all those companies, especially Silicon Valley companies, that hire hundreds of people during the bull runs to fire them as soon as there is a downturn in the market. That I think is one of the most unfair things you can do to employees.”
Tether oversees $118 billion in assets supporting USDT and intends to augment its finance department.
Tether’s Staff Expansion Following “Record-Breaking” Profits
In the past, Tether has been a flourishing crypto company, achieving “record-breaking” profits. The USDT issuer generated a net profit of $5.2 billion in the first half of 2024, primarily due to robust revenue from traditional asset investments.
According to estimates, the stablecoin with the largest market capitalization in 2023 generated a net income of US$6.2 billion. According to Bitwise President Teddy Fusaro’s April observation, this accounts for roughly 78% of Goldman Sachs’ and 72% of Morgan Stanley’s transactions.
He asserted that Tether has a mere 100 employees in comparison.
“We are extremely proud of our leanness and are committed to maintaining it to remain adaptable,” Adroino stated to Bloomberg.
Intriguingly, Adroino discussed the company’s personnel strength during the Bitcoin Fundamentals Podcast on Thursday. Preston Pysh, the presenter of X, reported that it is “rumored” that Tether has 100 employees.
“And the profit per employee is $13,000,000, as determined by their most recent quarterly earnings.” Which equates to $52 million per employee annually.
Tether announced the expansion of its artificial intelligence (AI)-focused initiative to stimulate innovation at the beginning of the year. In the interim, the organization has been actively seeking out the most exceptional individuals globally to assist in developing its AI division.
