Tether stablecoin firm appoints CTO Paolo Ardoino as CEO
Tether, the issuer of the world’s largest stablecoin by market capitalization, is replacing its CEO as the company works to expand its areas of focus.
Paolo Ardoino, who has been serving as Tether’s chief technology officer since 2017, will become the new CEO of the firm in December 2023, Tether announced on Oct. 13.
Ardoino will replace Jean-Louis van der Velde, who will transition to an advisory role for Tether while retaining his position as CEO of Tether’s sister company Bitfinex. Ardoino will continue in his roles as CTO for Bitfinex and chief strategy officer for the Bitcoin (BTC) layer 2 solution Holepunch.
Ardoino will also “continue to oversee the technology department for the time being” at Tether, a spokesperson for the firm told Cointelegraph.
Tether said the change in leadership reflects the company’s commitment to actively exploring new business operations, including peer-to-peer communications, renewable energy, resilient data storage and Bitcoin mining.
As Ardoino has been leading Tether’s expansion strategy over the last couple of years, the transition should be seen as a “natural progression,” a representative of the firm told Cointelegraph.
The firm said Ardoino is the ideal choice for Tether’s CEO due to his significant impact beyond his organizational roles, including his involvement and understanding of Holepunch, Bitcoin mining, hardware and artificial intelligence. Ardoino's efforts toward enhancing freedom and fostering innovation have also established the exec as one of the most influential figures in the community, Tether noted.
Related: USDR stablecoin depegs to $0.53, but team vows to provide solutions
“Under Paolo’s leadership, Tether will continue to work towards delivering financial
Read more on cointelegraph.com
