• Tether says Paolo Ardoino will officially take up the CEO role from December 2023.
• Ardoino will continue as Bitfinex CTO and chief strategy officer for Holepunch.
• Meanwhile, exiting CEO Jean-Louis van der Velde, becomes an advisor and remains CEO of Bitfinex.

Tether news just in is that the company’s Chief Technology Officer Paolo Ardoino has been appointed as the new CEO, with the new role effective as from December 2023. Ardoino will continue as Bitfinex CTO and Chief Strategy Officer for Holepunch.

Meanwhile, current CEO, Jean-Louis van der Velde, will “transition to an advisory role for Tether while retaining his position as CEO of Bitfinex.”

New CEO to lead Tether into new growth chapter

Changes at the management level for the stablecoin issuer comes as the company looks to diversify into new verticals. One of the signals for this shift to a technology-focus approach was highlighted by the recent mega investment in Northern Data Group – with Tether eyeing dominance in the artificial intelligence space across Europe.

Commenting on Ardoino’s elevation to CEO, van der Velde said:

“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.”

In his remarks, Ardoino noted Tether’s commitment to transparency, security, and financial integration of digital assets – goals he will pursue as the new CEO. Notably, Ardoino has been the public face of Tether since 2017, with much of what’s communicated from the company’s leadership put to the public through him.