Tether, the largest stablecoin by market capitalization, is ushering in a new era with the appointment of Paolo Ardoino as its Chief Executive Officer, effective from December 2023. Ardoino, a prominent figure known for his visionary leadership and substantial contributions to the cryptocurrency sphere, will assume the CEO role, succeeding Jean-Louis van der Velde (JL). JL will transition to an advisory position for Tether while retaining his role as CEO for Bitfinex. Ardoino will continue to serve as Chief Technology Officer for Bitfinex and Chief Strategy Officer for Holepunch.
Ardoino’s journey in the cryptocurrency industry commenced in 2014 when he joined Bitfinex, renowned as one of the most advanced and resilient cryptocurrency exchanges in the industry. His tenure at Bitfinex saw him playing a pivotal role in enhancing the platform’s Bitcoin trading capabilities, earning recognition for his dedication and profound knowledge of blockchain technology.
In 2017, Ardoino assumed the role of Chief Technology Officer at Tether, a leading stablecoin provider. Here, he continued to demonstrate his exceptional ability to drive innovation and expand business horizons. One of his standout accomplishments was co-leading the strategy that propelled Tether’s market presence and market capitalization to a remarkable USD$83 billion, solidifying its status as a global stablecoin powerhouse and a vital component of the cryptocurrency ecosystem.
Ardoino’s influence extends far beyond the organizations he serves, as he actively contributes to the stability and growth of global cryptocurrency markets. His participation in industry discussions, commitment to security enhancement, and innovative thinking have established him as one of the most respected and influential figures in the crypto community.
Ardoino is also a passionate advocate for financial inclusion in emerging markets and co-sponsors the Bitfinex Freedom Manifesto, emphasizing the virtues of Bitcoin, Lightning, and peer-to-peer technologies in delivering financial freedom and freedom of speech. Under his leadership, Tether will continue to work towards providing financial services to those in need and reshaping the global financial landscape.
Jean-Louis van der Velde (JL), whose leadership has been instrumental in Tether’s rise to an industry leader, will continue to play a crucial role as an advisor. His expertise in managing global regulatory relationships will be invaluable as Tether charts its course for further success and diversification into new areas with a technology-focused approach.
Jean-Louis van der Velde expressed his confidence in Paolo Ardoino, stating, “Paolo is extremely well-suited to lead Tether into this exciting new era. I believe Tether is poised to continue its rapid growth, with a continued focus on emerging markets and transformative technology. I think I can speak for the entire company when I say that we eagerly anticipate Paolo’s leadership as he guides Tether toward a future where finance knows no bounds.”
Paolo Ardoino expressed his honor at being entrusted with the role of CEO at Tether and shared his excitement about leading the team in innovation and providing stability in the cryptocurrency and global space. He emphasized Tether’s commitment to transparency, security, and its role as a catalyst in integrating digital assets into the global financial ecosystem.
This strategic transition underscores Tether’s long-term strategy, reaffirming its position as a paramount leader in the crypto industry, well-equipped for expansion into new areas. Tether remains a stalwart ally and champion for the growth and innovation of the crypto industry, solidifying its commitment to the future of finance.
Source – Tether