Tether executive shakeup: Ardoino takes over as CEO

Ardoino is also chief technology officer of Bitfinex as well as chief strategy officer at Holepunch

article-image

DIAMOND VISUALS/Shutterstock modified by Blockworks

share

Paolo Ardoino will take the helm as CEO of Tether from Jean-Louis van der Velde in December.

Ardoino took on the role of chief technology officer back in 2017 after joining the company in 2014. Van der Velde, who also co-founded Bitfinex, will stay on as an advisor but will retain his role as CEO of Bitfinex.

“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 said.

Ardoino is also chief technology officer of Bitfinex as well as chief strategy officer at Holepunch. 

“At Bitfinex, Ardoino played a pivotal role in enhancing the platform’s Bitcoin trading capabilities, rapidly earning recognition for his dedication and profound knowledge of blockchain technology,” the post said.

According to a Tether spokesperson, Ardoino will continue to oversee the technology department for now.

“This strategic transition has been meticulously planned, aligning seamlessly with Tether’s long-term strategy,” the blog said.

Tether said its market cap is at $83 billion currently. In its last attestation report — released in July — the company reported excess reserves of $3.3 billion as of late June

Back in late August, Coinbase suspended USDT trading in Canada. At the time, a Coinbase spokesperson told Blockworks that the change came because the company monitors “the assets on our exchange to ensure they meet our listing standards.”


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Unlocked by Template.png

Research

With the spot ETH ETF approval, the institutions are coming. stETH - given its dominance in marketshare, existing liquid market structures, and highly desirable properties - is poised for institutions.

article-image

Launching cryptocurrencies the old fashioned way may soon make a return

article-image

Kraken and CertiK brought their beef to social media after Kraken said researchers exploited $3 million through a bug

article-image

NVIDIA’s historic run is only deepening the divide between mega-cap tech stocks and the rest of the market.

article-image

EIP-7702 was quickly adopted for the next Ethereum upgrade, but developers haven’t quite locked it down