Tether Names Paolo Ardoino As CEO In A Strategic Move

Stablecoin issuer Tether names Paolo Ardoino as its new chief executive officer. Former CEO Jean-Louis van der Velde will continue to contribute to the success of the company and stablecoin Tether (USDT) with the transition to an advisory role. The crypto community congratulated Ardoino as the company expand into new verticals and starts investing in Bitcoin.

Tether Appoints Paolo Ardoino As CEO

In an official announcement on October 13, Tether revealed the promotion of Paolo Ardoino as its new Chief Executive Officer. Ardoino will continue in his current roles as chief technology officer (CTO) for Bitfinex and chief strategy officer for Holepunch.

Paolo Ardoino will take responsibility as CEO from December 2023. Current CEO Jean-Louis van der Velde will transition into an advisory role. Jean-Louis van der Velde said:

“Paolo is extremely well-suited to lead Tether into this exciting new era. I believe Tether is poised to continue its rapid growth, with a continued focus on emerging markets and transformative technology.”

Paolo Ardoino took to X to share the news with the crypto community. Tron founder Justin Sun, VanEck’s Gabor Gurbacs, and other key people from the digital asset market congratulated him.

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

This is a strategic transition planned to align with Tether’s long-term strategy, as per the press release. Ardoino as CEO can increase Tether’s position in the crypto industry as the company expands into new verticals. Tether also started investing in Bitcoin.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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