The firm behind the leading stablecoin, Tether, announced former PayPal executive Jesse Spiro as its new Head of Government Affairs. Indeed, he brings more than 6 years of experience in the crypto space. Moreover, his previous work was in the realm of government relations.
Tether announced the appointment in a press release, calling Spiro an “industry leader.” Additionally, they say that he will be tasked with “leading policy and engagement with lawmakers, regulators, and key stakeholders.” The move is a key part of Tehter’s efforts to fortify its relations with governing bodies.
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Tether Tabs Former PayPal Exec as Head of Government Affairs
The stablecoin market has long had one leader; that being Tether’s USDT. The token leads the sector with a market cap of more than $118 billion. Moreover, it dominates with more than $47 billion in trading volume, according to CoinMarketCap.
Now, the firm is looking beyond the performance of its premiere stablecoin offering. Instead, it is looking toward its relationship with governments. A key part of that is Tether’s recent announcement that former PayPal executive Jesse Spiro is set to lead the firm’s government affairs.
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Spiro previously worked as PayPal’s head of regulatory relations for their blockchain and digital currencies business for three years, Tether said. Prior to this, he was the Chief Government Affairs Officer for Chainalysis. The firm is hoping to lean into his legislative insight to further cooperation with governments.
“I’m thrilled to step into this role with Tether,” Spiro said. “Tether plays a significant role in the current and future development of the digital economy and US dollar hegemony. The ever-evolving legislative and regulatory landscape will continue to require strong collaboration between the public and private sectors,” he added.
Spiro shares his belief that “through education and engagement” between lawmakers and the Tether ecosystem can grow simultaneously. Therefore, strengthening the digital asset market in the United States