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Tether Appoints Ex-Google, Limestone Capital Executive as Chief Business Officer

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Tether announced on Wednesday that it has named Benjamin Habbel as its new chief business officer, as the crypto firm expands its strategy beyond digital assets.

Habbel previously served as CEO of private equity firm Limestone Capital and held senior roles at Google. At Tether, he will oversee growth strategy, finance, investment, and portfolio expansion, while also working with the company’s diverse portfolio.

Tether’s investments already span artificial intelligence, telecommunications, bitcoin mining and energy, cloud computing, and real estate. Last year, the company invested $200 million to acquire a majority stake in U.S.-based brain implant company Blackrock Neurotech.

“Tether isn’t just a stablecoin company — it’s The Stable Company,” said CEO Paolo Ardoino, adding that Habbel’s appointment will accelerate Tether’s transformation into a broader technology and financial services powerhouse.

Headquartered in El Salvador, Tether is the issuer of the world’s largest stablecoin, USDT, which is pegged to the U.S. dollar and has a market capitalization of about $173 billion, according to CoinGecko.

The move comes as Tether looks to expand in the United States, where crypto firms are benefiting from President Donald Trump’s supportive stance on the sector and the launch of a U.S.-focused stablecoin, USAT.

El Salvador Increases Bitcoin Holdings Amid IMF Deal, Assures Compliance

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On Wednesday, El Salvador revealed that it had purchased an additional bitcoin, bringing the country’s total strategic bitcoin reserve to over 6,102 coins. The announcement follows closely on the heels of a recent agreement between the International Monetary Fund (IMF) and El Salvador, in which the IMF approved a 40-month program worth $1.4 billion. This agreement signaled a shift in the role of bitcoin in the country, downgrading its status from the legal tender it was granted in 2021.

Under the new arrangement, bitcoin can no longer be used for paying taxes, and its adoption by the public is now voluntary rather than mandatory, contrary to initial expectations. The Salvadoran government has committed to the IMF not to further accumulate bitcoin at the national public sector level. A spokesperson from the IMF stated that they had consulted with the Salvadoran authorities, who assured that the recent increase in bitcoin holdings was consistent with the agreed-upon terms of the IMF program.

While the IMF did not elaborate on how purchases made by the National Bitcoin Office do not add to the government’s exposure to the cryptocurrency, the announcement was seen as an attempt to balance the country’s growing bitcoin reserve with its international financial commitments.

Meanwhile, Salvadoran government dollar bonds saw a slight decline in price, particularly the 2050 and 2041 maturities, which dropped by 0.75 cents on the dollar. The Salvadoran government currently holds around $550 million in bitcoin, having acquired 12 more bitcoins since the IMF’s approval of the agreement last week.

Central African Republic Launches Meme Coin ‘Experiment

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The Central African Republic (CAR) has unveiled its own meme coin, a move President Faustin-Archange Touadera described as an effort to raise the country’s profile globally. The announcement was made on X (formerly Twitter) late on Sunday, almost three years after CAR became the first African country, and only the second in the world after El Salvador, to adopt bitcoin as legal tender.

Meme coins, which are typically crypto tokens inspired by internet trends or memes, are known for their high volatility and limited practical use. Last month, U.S. President Donald Trump launched a meme coin, $Trump, which briefly surged in value to over $14.5 billion before seeing a significant decline.

Despite its rich reserves of gold and diamonds, CAR remains one of the world’s poorest countries, plagued by ongoing rebel violence and underdevelopment. President Touadera emphasized that the $CAR meme coin is an “experiment” aimed at demonstrating how something as simple as a meme can unite people, promote national development, and enhance CAR’s visibility on the global stage.

The $CAR token was valued at $0.22 on Monday morning, according to CoinGecko. However, a separate account dedicated to updates on $CAR was suspended by X as of Monday, with the government working to restore it.