Thomas Daniels
Stablecoin issuer Tether has announced the appointment of Philip Gradwell, former chief economist at Chainalysis, to spearhead its economic analysis initiatives. Gradwell’s role will involve elucidating the practical applications of stablecoins within the real economy to regulators and stakeholders.
In a blog post published on Monday, Tether detailed Gradwell’s new position, emphasizing his responsibility to “quantify the Tether economy” and articulate the ways in which Tether is utilized. Having spent six years at Chainalysis, Gradwell brings extensive experience in economic analysis within the cryptocurrency sector.
Gradwell stated that his objective at Tether is to transform the perception of stablecoins from enigmatic entities to well-understood financial tools, highlighting how digital assets, particularly USDT, underpin the dominance of the US dollar in global finance.
Tether CEO Paolo Ardoino praised Gradwell’s appointment, asserting that his expertise will enhance the understanding of Tether’s vital role in supporting the dollar. This move reflects Tether’s ongoing commitment to regulatory compliance amidst concerns over the misuse of stablecoins for evading sanctions or laundering illicit funds.
