USDT Stablecoin Issuer Tether Names Paolo Ardoino as New CEO

• Paolo Ardoino was named Tether’s new CEO in an official statement released on October 13.
• After working with Bitfinex for three years, Ardoino joined Tether in 2017 as its CTO.

USDT stablecoin issuer Tether has appointed Paolo Ardoino as its new CEO. Jean-Louis van der Velde, the company’s former CEO, has moved into an advising position to continue his contributions. Ardoino’s growth into emerging fields and investment in Bitcoin have been met with praise from the cryptocurrency community.

Paolo Ardoino was named Tether’s new CEO in an official statement released on October 13. Ardoino will keep his present positions as Bitfinex’s CTO and Holepunch’s chief strategy officer. CEO duties will be assumed by Paolo Ardoino beginning in December 2023. Jean-Louis van der Velde, the company’s current CEO, will move into a new advisory position that time.

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.”

Calculated Move

Paolo Ardoino informed the crypto community through Twitter. Key figures in the digital asset industry, including Tron’s founder Justin Sun, VanEck’s Gabor Gurbacs, and others, congratulated him. According to the announcement, this is a calculated move made to better serve Tether’s long-term goals. With Ardoino at the helm, Tether can strengthen its position and enter new markets.

After working with Bitfinex for three years, Ardoino joined Tether in 2017 as its chief technology officer. Starting in 2020, Tether’s (USDT) market value began to expand exponentially, eventually reaching $83.5 billion.

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