Stablecoin Tether appoints chief technology officer Ardoino as CEO
Crypto firm Tether's Chief Technology Officer Paolo Ardoino will also become its CEO from December, the company said on Friday, in a surprise management shake-up for one of the crypto world's top tokens.
Current CEO Jean-Louis van der Velde will «transition to an advisory role for Tether», the company said in a statement.
Tether issues a stablecoin, also called Tether, which is designed to maintain a constant value of $1 and is widely used in crypto-to-crypto trading.
There is $83.5 billion worth of Tether in circulation, making it the third-biggest cryptocurrency after bitcoin and ether, according to CoinGecko.
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View Details» Little is known about van der Velde, who keeps a low public profile. It is Ardoino who acts as the public face of the company, posting regularly on social media platform X, formerly known as Twitter, and speaking to journalists.
Ardoino became chief technology officer of Tether in 2017, the company said. He said on X on Friday that he was «excited and humbled» to become CEO.
Van der Velde said in the company statement that Ardoino was «extremely well-suited to lead Tether into this exciting new era.»
ARDOINO'S TECH DREAMS
Ardoino studied computer science at university in Genoa, Italy, according to Bitfinex's website.
After graduating in 2008 he worked as a researcher for a military project, while experimenting «extensively» with cryptography, then began developing finance-related
