Tether Holdings Ltd., after record profits in 2024, is expanding its presence in the US and planning to open a new headquarters in El Salvador.
Tether's Investments in the US
According to a Bloomberg report, Tether invested $775 million into the American video-sharing platform Rumble Inc. Tether CEO Paolo Ardoino sees this as 'a great opportunity to start looking at the US environment and how it will change.' However, he remains cautious, waiting to see what new laws look like before proceeding. US government bonds dominate USDT's reserves, which contributed to Tether's increased profits amid rising interest rates and a crypto rebound. Tether’s Treasury holdings are managed by Cantor Fitzgerald LP, whose CEO, Howard Lutnick, has been named to Trump’s next administration.
Tether's History with the US
The company has a complex history with the US. In 2021, Tether paid $41 million to settle allegations of misrepresenting its reserves without admitting any wrongdoing. Recently, The Wall Street Journal reported a possible investigation in New York for violating sanctions and anti-money laundering rules. However, Ardoino denied any awareness of such an inquiry. Tether is also one of the top crypto lobbyists in the US, having hired former PayPal executive Jesse Spiro to lead government relations.
New Headquarters in El Salvador
Ardoino also shared that Tether is finalizing its global headquarters in El Salvador, where it will relocate the entire corporate structure of its parent company, iFinex Inc. This includes hiring dozens of employees, which could expand to hundreds. The company is constructing a skyscraper in the San Salvador area, known as the Tether Tower. As part of its expansion, some staff members are planning to move there with their families.
Tether is confidently expanding its capabilities in the US and globally, focusing on favorable economic and political environments.