Paolo Ardoino Promoted to CEO of Tether
In a surprising move, Paolo Ardoino, the chief technology officer for Tether, has been promoted to the position of CEO. This promotion will see Ardoino taking over from Jean-Louis van der Velde, who has been the company’s boss for several years.
A New Era for Tether
Tether announced in a press release that Ardoino will officially assume the role of CEO in December 2023, succeeding van der Velde. However, van der Velde will still hold the position of CEO at Bitfinex, a closely associated crypto exchange owned by the same Hong Kong-based parent company, Ifinex. He will also take on an advisory role at Tether.
Dual Role for Ardoino
Despite his new responsibilities as CEO, Ardoino will continue serving as Tether’s chief technology officer. Additionally, he will retain his position as chief strategy officer of Holepunch, a peer-to-peer communications network launched by Tether, Bitfinex, and Hypercore.
Ardoino’s Journey in Crypto
Ardoino entered the crypto industry when he joined Bitfinex in 2014. In 2017, he took on the role of chief technology officer at Tether. With this promotion to CEO, Ardoino is poised to lead one of the largest stablecoin operations globally.
Hot Take: A New Leader for Tether’s Future
With Paolo Ardoino taking over as CEO of Tether, the stablecoin company is entering a new phase under his leadership. As an experienced figure in both Bitfinex and Tether, Ardoino brings a deep understanding of the industry and the company’s operations. This transition also allows Jean-Louis van der Velde to focus on his role as CEO at Bitfinex while providing valuable guidance to Tether in an advisory capacity. The crypto community will be watching closely as Ardoino steers Tether into the future.
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