Tether, the popular stablecoin provider, has made a significant change in its leadership by naming Paolo Ardoino as the new CEO. This move comes as Tether expands into various new business areas.
Tether, the company behind the popular stablecoin Tether (USDT), has appointed Paolo Ardoino as its new CEO. Jean-Louis van der Velde, the former CEO, will continue to support the company but in an advisory capacity. This leadership change comes as Tether diversifies its business into new areas and begins investing in Bitcoin. Members of the crypto community have welcomed Ardoino’s appointment.
Tether Appoints Paolo Ardoino as CEO
Tether, in an official announcement on October 13, revealed that Paolo Ardoino will be the new CEO, taking on the role in December 2023. The current CEO, Jean-Louis van der Velde, will transition to an advisory role. Ardoino currently serves as the CTO of Bitfinex and the Chief Strategy Officer for Holepunch.
Jean-Louis van der Velde expressed his confidence in Ardoino, stating that he believes Tether will continue its growth and focus on emerging markets and transformative technology under his leadership.
Ardoino shared the news on X, and his appointment was met with congratulations from notable figures in the crypto community, including Justin Sun and Gabor Gurbacs.
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
Tether’s appointment of Paolo Ardoino as CEO is part of a strategic transition aimed at aligning with the company’s long-term goals, as stated in the press release. This move positions Ardoino to further strengthen Tether’s position within the crypto industry while expanding into new areas. Additionally, Tether has initiated investments in Bitcoin.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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