Tether 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 …