In the words of Jean-Louis van der Velde, the former CEO of Tether, “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.”
Stablecoin issuer Tether (USDT) has undergone a change in leadership with the appointment of Paolo Ardoino as its new CEO. Ardonio will replace Jean-Louis van der Velde, who will switch to an advisory role at Tether whilst retaining his position as the CEO of Bitfinex, a crypto exchange.
According to the press release, Ardoino will remain as the Chief Technology Officer of Bitfinex and the Chief Strategy Officer of app building platform Holepunch. Highlighting Ardoino’s role in raising USDT’s market capitalization to $83B, Tether praised its new CEO for his contributions to the stability and growth of the global crypto markets.
Going forward, Tether seeks the global expansion of the US Dollar (USD) alongside ensuring the fiat currency continues to remain useful in emerging markets.
It is worth noting that Tether has continued to retain its standing as the largest stablecoin despite the tumultuous year for most cryptocurrencies. With its $83B market cap, USDT is also the third largest cryptocurrency after Bitcoin (BTC) and Ethereum (ETH).
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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