- Tether appoints Simon McWilliams as CFO to enhance financial transparency and audit readiness amid growing regulatory scrutiny in the stablecoin market.
- Tether expands beyond digital assets by acquiring a majority stake in Adecoagro SA, signaling a broader diversification strategy.
Tether has just appointed Simon McWilliams as its new Chief Financial Officer (CFO). The move is seen as part of the company’s plan to advocate a complete audit in order to improve financial openness.
Having more than two decades of financial expertise, McWilliams is expected to push Tether to unprecedented levels in terms of regulatory compliance and openness. Still, the stablecoin sector is experiencing more dynamics behind the change.
🚨JUST IN: @TETHER_TO APPOINTS SIMON MCWILLIAMS AS NEW CHIEF FINANCIAL OFFICER (CFO) TO DRIVE FULL AUDIT
— BSCN Headlines (@BSCNheadlines) March 3, 2025
Competition Heats Up: Tether vs. Circle
Although McWilliams is now in control of Tether’s finances, the company’s main owner, Giancarlo Devasini, still has a lot of work ahead of him. The USD Coin (USDC) competition between Tether and Circle is getting intense. Founded Circle, Jeremy Allaire keeps advocating stricter control in the aim of reducing Tether’s impact on the worldwide stablecoin space.
While Allaire believes that control will help to produce a more open and safe ecosystem, Devasini objects. Strict control, in his opinion, goes against the fundamental values of the crypto community that give decentralization top priority. Given their own interests, it is understandable that both engage in extensive political lobbying, so influencing legislators and authorities.
USDT on The Open Network (TON): The Fastest Expansion in Stablecoin History?
Tether keeps proving its supremacy in the stablecoin space in the face of legal pressure. In just 10 months, USDT running on The Open Network (TON) turned out to be $1.4 billion, according to CNF. USDT on TON is among the fastest-growing stablecoin initiatives in blockchain history thanks to this speed of expansion.
Moreover, in February 2025, TON recently adopted the Layer Zero interoperability standard. USDT on the TON network can now direct itself straight to more than 100 other blockchains, including Ethereum, Tron, and Solana, using this technology. Stated differently, the acceptance and usability of USDT are growing so that users may move money more freely and effectively.
Tether Buys a Majority Stake in Adecoagro
Apart from enhancing its dominance in the digital space, Tether is also gradually breaking into more traditional business sectors. The company has revealed its intention to hold a majority share in Adecoagro SA, a South American agro-industrial company.
This move is really fascinating since it indicates that Tether intends to enter the real industry in addition to being engaged in the world of digital assets. This shows a long-term approach to guarantee the company’s value beyond the doubtful crypto market as well as about diversifying the business.
