Interestingly, Tether is essentially run by one person (maybe), JL van der Velde, and they are now under the jurisdiction of El Salvador. He owns a 20% stake in Tether and is worth $3.9 billion. Tether's share of the crypto market is 66% of stablecoins. Tether has 5.2% of the total crypto market cap.

They most likely moved their headquarters to El Salvador this year because of the tax breaks. Tax breaks: The ICT Innovation Act provides a 15-year tax holiday for tech companies, including exemption from income, property, and capital gains taxes

Here is a visual diagram of Tether's structure:

In the center is Tether Holdings, which issues USDT.

It is run by key figures also associated with Bitfinex - Paolo Ardoino, Jean-Louis van der Velde, and Stuart Hoegner.

Bitfinex and Tether are closely linked, with Deltec Bank being one of Tether's main banks.

The headquarters recently moved to El Salvador, adding strategic importance to the region but also giving it some leverage over a major crypto player