Tether, a leading stablecoin issuer, announced the appointment of Paolo Ardoino as its new Chief Executive Officer.
Paolo Ardoino Becomes New Chief Executive Officer
Ardoino, a long-time Chief Technology Officer, will officially assume the CEO role in December. Ardoino will replace Jean-Louis van der Velde, who will move to a consultancy role.
Velde will continue as CEO of Bitfinex, Tether's sister company. At the same time, Ardoino will continue his duties as CTO of Bitfinex and Chief Strategy Officer of Holepunch, a peer-to-peer application development platform powered by Bitfinex, Tether and Hypercore.
A Tether spokesperson explained that Ardoino will continue to oversee Tether's technology department for now. Ardoino has been an integral part of Bitfinex since 2014 and joined Tether in 2017.
This leadership transition aligns with Tether's strategic vision to transcend its identity as a stablecoin issuer and transform into “a technology-centric organization reshaping the future of finance.” The company aims to be an important infrastructure partner in the development of “resilient” cities.
The spokesperson summarized Ardoino's initial focus: “Paolo will begin his role by focusing on technological developments, supporting peer-to-peer projects and participating in Bitcoin mining initiatives.”
On the other hand, Ardoino emphasized that the USDT stablecoin remains at the center of its operations and announced Tether's future plans.
“Tether will also soon announce a new platform that leverages Tether's experience building financial technologies and focuses on real-world assets.” said.
*This is not investment advice.