In an unexpected move, Paolo Ardoino, the stablecoin company’s chief technology officer, has been elevated to CEO. The company’s longtime leader and reclusive crypto executive and entrepreneur, Jean-Louis van der Velde, will be replaced by Ardoino.
Tether said on Friday that Ardoino would succeed van der Velde as CEO beginning in December 2023. While continuing to serve as CEO of Bitfinex, a cryptocurrency exchange closely linked to Tether and run by the same Hong Kong-based parent firm, Ifinex, Van der Velde will take on a new advisory position at Tether.
In addition to his new responsibilities as CEO, Ardoino will continue to act as Tether’s CTO, the company announced. A peer-to-peer communications network founded by Tether, Bitfinex, and infrastructure platform Hypercore, Holepunch, will continue to have him as its chief strategy officer.
After joining Bitfinex in 2014, Ardoino got started with cryptocurrency. He became the chief technology officer of Tether in 2017.
Source (CNBC)
