People familiar with the matter claimed Brett Redfearn’s departure was due to Coinbase shifting its priorities away from digital asset securities.
USDT’s market capitalisation is currently $62.6 billion, according to industry data. USDT continues to be the world’s largest stablecoin by far, although its market share has declined as key competitors like as USDC gain popularity.
Tether issued its 50 billionth currency in April, as Bitcoin (BTC) and other cryptocurrencies continued their ascent to new all-time highs. The second leg of the bull market, which appears to have begun this month, may result in increased demand for dollar-pegged stablecoins in the near future.
Coinbase said earlier this year that Faryar Shirzad, a former member of the White House National Security Council, will join the company as chief policy officer. Additionally, the firm expanded its operations in India with the hire of Pankaj Gupta, a former Google Pay technical head.