Tether, the creator of $USDT, the most prominent stablecoin in the world by market value, has appointed a new CEO while the company endeavors to broaden its areas of emphasis.
In October 2023, Tether declared that Paolo Ardoino, who has held the position of Tether’s Chief Technology Officer (CTO) since 2017, is set to assume the role of CEO for the company starting in December 2023.
Ardoino will take over from Jean-Louis van der Velde, who will shift into an advisory capacity within Tether, all the while maintaining his role as the CEO of Tether’s affiliate company, Bitfinex. In addition, Ardoino will maintain his current positions as Chief Technology Officer (CTO) at Bitfinex and Chief Strategy Officer for the Bitcoin layer-2 solution, Holepunch.
I'm truly excited and humbled to take the role as CEO at #Tether.
During my journey, started in 2014 with Bitfinex and later in 2017 at Tether, I had the opportunity to meet wonderful people, that became great friends and a family. And as a family we achieved incredible results.… https://t.co/iaDbeKWIk3— Paolo Ardoino 🍐 (@paoloardoino) October 13, 2023
“Paolo is extremely well-suited to lead Tether into this exciting new era,” said Jean-Louis van der Velde.
“I believe Tether is poised to continue its rapid growth, with a continued focus on emerging markets and transformative technology. I think I can speak for the entire company when I say that we eagerly anticipate Paolo’s leadership as he guides Tether toward a future where finance knows no bounds.”
The leadership transition signifies the company’s dedication to actively venturing into new business endeavors, such as:
- Peer-to-peer communications
- Sustainable energy
- Robust data storage, and
- Bitcoin mining
According to a Tether spokesperson, Ardoino will retain his oversight of the technology department at Tether for the time being.
Ardoino, who highlighted his ideas in a recent exclusive interview with BitKE is seen as the perfect candidate for the position of Tether’s CEO, citing his substantial influence that extends beyond his formal roles. This influence encompasses his contributions and expertise in areas like Holepunch, bitcoin mining, hardware, and artificial intelligence.
Moreover Ardoino’s reputation in the industry involving efforts to promote freedom and nurture innovation have solidified his standing as one of the most influential figures within the community.
“Paolo [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’s mission also includes expanding the influence of the USD and Bitcoin in global trade and exchange,” a spokesperson said.
