The New CEO of Tether Is Formerly The Company’s CTO – Paolo Ardoino

Tether, the issuer of the world’s largest stablecoin by market capitalization, is undergoing a change in leadership as part of its strategic expansion efforts by Appoints Paolo Ardoino as the new CEO of Tether.

Paolo Ardoino’s Transition to The new CEO of Tether

Paolo Ardoino, who has served as Tether’s Chief Technology Officer since 2017, will become the new CEO of Tether in December 2023. Tether officially announced this significant transition on October 13th. Jean-Louis van der Velde, the outgoing CEO, will transition into an advisory role for Tether while also retaining his position as the new CEO of Tether’s affiliated company, Bitfinex.

Paolo Ardoino will continue to serve as the Chief Technology Officer for Bitfinex and the Chief Strategy Officer for Holepunch, a Bitcoin layer-2 solution. According to a spokesperson from the firm, Ardoino will also maintain oversight of the technology department at Tether for the time being. Ardoino’s appointment as CEO is seen as a natural progression, given his instrumental role in driving Tether’s expansion strategy in recent years, as stated by a representative from the firm.

Paolo Ardoino: A Visionary Leader in Tether’s New Chapter

The choice of Ardoino as Tether’s new CEO is well-founded, considering his substantial impact beyond his organizational roles. His deep involvement and understanding of critical areas such as Holepunch, Bitcoin mining, hardware, and artificial intelligence make him an ideal fit. Tether acknowledges Ardoino’s dedication to fostering innovation and enhancing freedom, establishing him as one of the community’s most influential figures.

A Tether spokesperson confirmed that under Paolo’s leadership, the company will continue its mission to provide essential financial services while reshaping the global financial landscape. Tether has been actively developing its Bitcoin mining operations in 2023, including the launch of a mining operation in Uruguay in May and the introduction of Tether BTC mining software in August 2023. In September 2023, Tether also made an investment in the German crypto miner Northern Data Group, aligning with artificial intelligence initiatives.

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