Tether, one of the leading stablecoin issuers, has announced a surprising management shake-up. Paolo Ardoino, the current Chief Technology Officer (CTO) of Tether, will be promoted to the role of CEO. This move will see him take over from Jean-Louis van der Velde, who will transition to an advisory role for Tether while retaining his position as CEO for Bitfinex. Ardoino will assume his new position in December 2023. Despite his promotion, he will continue to serve as the CTO for Bitfinex and the Chief Strategy Officer for Holepunch. Ardoino has been with Bitfinex since 2014 and became the CTO of Tether three years later. He has been credited with co-leading the strategy responsible for the growth of Tether’s market presence and market capitalization. Tether stated that this management transition has been carefully planned and aligns with its long-term strategy. In a previous interview, Ardoino stated that Tether has no plans to go public.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	1
People	Paolo Ardoino, Jean-Louis van der Velde
Companies	Bitfinex, Tether, Holepunch
Currencies	Tether
Securities	None