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Tether has announced the appointment of Philip Gradwell as its new Head of Economics. Gradwell brings six years of experience as the Chief Economist at Chainalysis, a leading blockchain analytics firm.
In his new role, Gradwell will be responsible for “quantifying the Tether economy and communicating the ways Tether is used to regulators and stakeholders,” according to a press release from the company.
Tether CEO Paolo Ardoino expressed his enthusiasm for the new addition to the team, stating, “We are thrilled to welcome Philip to the Tether team. His extensive experience and proven track record in the digital asset space make him the ideal person to lead our economic analysis efforts.”
Tether emphasized Gradwell’s role in supporting the U.S. dollar, noting that Tether’s USDT stablecoin is redeemable on a one-to-one basis with the dollar. Ardoino added, “Philip’s expertise will enable Tether to bring even further understanding to our indispensable role in supporting the dollar.”
Gradwell shared his vision for his new position, saying, “Many people still view digital assets as a mystery, partly due to the industry’s focus on technology rather than practical 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.”
Reflecting on his previous work at Chainalysis, Gradwell stated, “I am proud to have played a part in maturing digital assets to the point where, in Tether, there is a true economy to analyze and the data and knowledge to do so.”
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