Tether Taps Trump’s Former Crypto Advisor to Lead US Operations

Tether, the world's largest stablecoin issuer, has hired Trump's former cryptocurrency advisor, Mick Mulvaney, to lead its U.S. operations. Mulvaney, who previously served as the acting White House chief of staff and the director of the Office of Management and Budget under the Trump administration, will now oversee Tether's compliance and regulatory efforts in the United States. The move comes as Tether continues to face ongoing scrutiny and legal challenges over the composition of its reserves and its role in the broader cryptocurrency ecosystem. Mulvaney's appointment is seen as an attempt by Tether to bolster its regulatory standing and navigate the complex web of U.S. financial regulations. Tether's decision to bring in a high-profile political figure like Mulvaney highlights the growing importance of regulatory compliance in the cryptocurrency industry. As the market continues to evolve, companies like Tether are seeking to strengthen their ties with policymakers and regulators to ensure the long-term viability of their platforms.