Tether appoints Paolo Ardoino as new CEO

Tether, which operates TetherUSD (USDT), has promoted Chief Technology Officer Paolo Ardoino to Chief Executive Officer (the world’s largest stablecoin issuer). announced on friday.

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fast facts

  • Mr. Ardoino will succeed Jean-Louis van der Velde from December 2023, who will take up his position as CEO of Bitfinex, Tether’s sister cryptocurrency exchange under iFinex Inc. While maintaining his position, he plans to transition to an advisory position at the company.
  • Mr. Ardoino will retain his role as CTO of Bitfinex and chief strategy officer of Holepunch, a Bitcoin layer 2 project funded by Tether and Bitfinex. Ardoino has been Tether’s CTO since 2017.
  • Despite his role as CTO of both Bitfinex and Tether, Ardoino is the de facto spokesperson for both companies, often addressing the public and media on behalf of both companies.
  • According to CoinMarketCap, USDT is the largest stablecoin with a market capitalization of USD 83.5 billion, followed by USDC with a market cap of USD 25 billion. data.

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