Tether taps former PayPal and Chainalysis exec Jesse Spiro to lead policy and regulatory engagement

Tether USDT +0.090% , the issuer of the world's largest stablecoin, announced Friday the appointment of Jesse Spiro as head of government affairs. In this role, Spiro will be responsible for leading policy and engagement efforts with lawmakers, regulators and key stakeholders.

Spiro brings over six years of experience in government and regulatory relations within the blockchain space, according to a company blog post.

Spiro most recently served for three years as PayPal's Head of Regulatory Relations for its Blockchain and Digital Currencies Business. Before this, he was the Chief Government Affairs Officer at blockchain analytics firm Chainalysis.

"Tether plays a significant role in the current and future development of the digital economy and U.S. dollar hegemony," said Spiro. "The ever-evolving legislative and regulatory landscape will continue to require strong collaboration between the public and private sectors. Through education and engagement, I look forward to working with industry, lawmakers, and government agencies as we continue to grow Tether and the ecosystem together."

Tether issues the world's largest stablecoin, USDT, which has a market capitalization of $118 billion according to The Block's USDT price page . The firm's quarterly attestation released in July showed a record net profit of $5.2 billion for the first half of 2024. This growth set the stage for Tether to double its existing workforce by mid-2025, expanding to around 200 employees.

More recently, Tether joined forces with TRON and TRM Labs to establish the T3 Financial Crime Unit (T3 FCU), an initiative that seeks to facilitate public-private collaboration to combat illicit activity associated with the use of USDT on the TRON blockchain.

"We are excited to welcome Jesse to the Tether team," said Tether CEO Paolo Ardoino. "His deep expertise in government relations and blockchain technology will be invaluable as we continue to navigate the complex and rapidly changing regulatory environment. Jesse’s appointment reinforces Tether’s commitment to responsible innovation and leadership in the digital asset space."