Tether, the company behind the world’s largest stablecoin by market capitalization, has announced a change in its leadership, Bloomberg reports. Paolo Ardoino, who has been serving as Tether’s chief technology officer since 2017, will take over as the new CEO of the firm in December 2023.
Tether Will Continue on Their Mission Under New Management
Jean-Louis van der Velde will be stepping down from his position as CEO of Tether, making way for Ardoino to take over the role. Van der Velde will continue to provide guidance to Tether in an advisory capacity, while also maintaining his CEO position at Bitfinex, a company closely affiliated with Tether.
In addition to his new role as CEO of Tether, Ardoino will retain his current positions as CTO of Bitfinex and Chief Strategy Officer for Holepunch, a layer 2 solution for Bitcoin.
The change in leadership reflects Tether’s commitment to actively exploring new business operations, including peer-to-peer communications, renewable energy, resilient data storage, and Bitcoin mining.
Given Ardoino’s instrumental role in spearheading the expansion strategy of Tether in recent years, his transition to the position of CEO can be viewed as a logical next step in his career trajectory.
The company has announced that Ardoino is the perfect candidate for the position of CEO at Tether. His contributions extend beyond his official duties, demonstrating a deep understanding and active involvement in various areas such as Holepunch, Bitcoin mining, hardware, and artificial intelligence.
Ardoino’s commitment to promoting freedom and encouraging innovation has solidified his reputation as a leading figure in the community. Under Paolo’s administration, Tether will continue to work towards delivering top-of-the-line financial services.
They added that Ardoino envisions Tether as a tech powerhouse poised to revolutionize the industry and serve as an infrastructure partner in the development of resilient cities and countries. Tether has been vigorously developing Bitcoin mining operations in 2023.
