Paolo Ardoino, who has been Tether’s CTO since 2017 and is also CTO at Bitfinex and Holepunch, has been promoted to the position of CEO at Tether. The former CEO, Jean-Louis van der Velde, will transition into an advisory role, while continuing as Bitfinex’s CEO, Tether said in a statement.
“Paolo is extremely well-suited to lead Tether into this exciting new era,” said Jean-Louis van der Velde.
“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,” he added.
“It’s truly an honor to be entrusted with the role of CEO at Tether,” said Paolo Ardoino.
I’m excited to lead our team as we continue to innovate and provide stability in the cryptocurrency and global space. Together with our community, we can build a future that lifts the barriers to our freedoms. We remain committed to transparency, security, and to being an unstoppable force in the seamless integration of digital assets into the global financial ecosystem and beyond, Ardoino added,
During Ardoino’s tenure as CTO, Tether’s market cap surged from under $100 million to an impressive $83.5 billion, reflecting significant growth, particularly starting in 2020.
