Tether taps Chainalysis' former Chief Economist to help communicate with regulators and stakeholders

Tether USDT +0.025% announced the appointment of Philip Gradwell — who previously spent six years at Chainalysis as the blockchain analytics firm’s Chief Economist — as the stablecoin issuer’s Head of Economics.

Gradwell's responsibilities will include "quantifying the Tether economy and communicating the ways Tether is used to regulators and stakeholders," according to a press release.

"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 CEO Paolo Ardoino said.

Tether also stressed Gradwell's role in supporting the U.S. dollar — to which the largest stablecoin, Tether's USDT, is redeemable on a one-to-one basis.

"Philip’s expertise will enable Tether to bring even further understanding to our indispensable role in supporting the dollar," Ardoino added.

"Many people still view digital assets as a mystery, partly due to the industry's focus on technology rather than practical use cases," Gradwell said. "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.”

In reference to his previous work at Chainalysis, Gradwell said that he is "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."