USDT profits are financing Tether’s rapid expansion into new sectors, even as concerns over governance and control persist. The company is moving beyond its flagship stablecoin by building a broad investment portfolio and corresponding hiring across multiple regions. Tether now owns stakes in around 140 businesses and projects, including farming ventures, a holding in Juventus, and interests in robotics, satellites, artificial intelligence, and media.
The group employs roughly 300 people and aims to recruit about 150 more over the next 18 months, with roles spanning engineering, AI filmmaking in Italy, UAE investment positions, and regulatory posts in Ghana and Brazil. CEO Paolo Ardoino outlined a broader vision at a San Salvador conference, arguing that technology should empower direct interaction without centralized gatekeepers. He said many global systems no longer serve everyday people and used images to underline that point.
Ardoino explained that Tether aims to build tools for money, communication, data, and energy that allow users to deal directly with one another. In his view, large tech companies with centralized control limit individual freedom. USDT is firmly controlled by Tether, with major decisions made by a small circle of senior executives.
As such, analysts question whether the company’s talk of freedom is genuine or merely promotional. Observers noted that business pressure could be the reason behind Tether’s moves. As more stablecoins enter the market, competition is rising and profit margins may narrow over time.
Moving into other businesses could help reduce pressure on USDT alone. Even with rapid expansion, Tether continues to face doubts about its earlier operations. The company built a reputation for limited disclosure and limited transparency.
At the San Salvador conference, staff wore badges showing only first names. Employees say internal teams often operate with little insight into one another’s work. On the other hand, management has started to tighten internal structure.
A small group in London now handles finance and operations under a new chief financial officer, Simon McWilliams. Executives emphasize profit tracking and discipline, though staff visibility across departments remains limited. Moreover, in-person meetings at overseas events remain one of the few chances for teams to connect.
Furthermore, questions were raised about the firm’s location decisions. Tether moved its headquarters to El Salvador last year after operating through several offshore locations. President Nayib Bukele supports crypto companies and promotes the country as a welcoming place for them.
That support has made El Salvador an attractive base for Tether’s operations. Rival firm Circle has taken a more traditional path, running operations from New York and listing its shares in the U.S. That contrast has drawn attention to how Tether manages regulation and accountability.
Tether still aims to expand its operations in the United States but progress has been difficult. Some investors pushed back against plans for a funding round that would value the company between $15 billion and $20 billion. Additionally, regulatory authorities continue to closely monitor stablecoin activity.
Stablecoins have drawn attention for use in sanctioned transactions and fraud. Reports show a large share of illicit stablecoin flows involve USDT. In 2021, Tether settled with U.S. authorities over claims that it misrepresented its reserve backing.
Since then, the company has shared quarterly reserve reports from the accounting firm BDO Italia, though a full audit has not been conducted. Credit analysts continue to question reserve composition, including exposure to bitcoin and gold. Tether rejects those concerns and points to growing holdings of U.S. government debt.
Investment income from reserve assets generates tens of billions of dollars each year and has fueled Tether’s expansion. Those funds support bitcoin mining software, AI systems, and media ventures, including a large stake in Rumble. Political ties have become more visible through these investments.
Supporters argue USDT helps people in countries with weak local currencies, such as Venezuela. Critics further counter that Tether’s influence now extends far beyond simple payments. As one industry observer noted, Tether increasingly behaves like a private monetary authority.
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