In a surprise move, the chief technology officer of stablecoin firm Tether, Paolo Ardoino, has been promoted to CEO.
Tether said that Chief Technology Officer Paolo Ardoino will lead the company from December 2023, succeeding current CEO Jean-Louis van der Velde.
Paolo Ardoino, the chief technology officer for Tether, has been promoted to CEO of the stablecoin company, in a surprise move. Ardoino will take the reins from Jean-Louis van der Velde, a secretive crypto executive and entrepreneur, who has for years been the company's boss. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyArdoino first became involved in crypto when he joined Bitfinex in 2014. He joined Tether as chief technology officer in 2017.
Ardoino has for years effectively been the face of Tether. He has held multiple interviews with the media and appeared on podcasts, often to defend his company and its associated USDT token from scrutiny. Van der Velde, on the other hand, has largely operated in the shadows, helming Tether without appearing in public much or speaking to the press.
For its part, Tether said that its coin is always backed by dollars and dollar-equivalent assets including government bonds. Tether is also backed by other assets, including crypto tokens like bitcoin, and even gold.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tether promotes Paolo Ardoino to CEO roleStablecoin issuer Tether has promoted its long-time CTO Paolo Ardoino to CEO as it envisions becoming a 'tech-centric organization.'
Read more »
Tether Promotes Paolo Ardoino to CEOOliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Read more »
Crypto lending invalidated by Chinese court in second landmark rulingThe decision left the lender, Mr. Ming, with no recourse on his 80,000 Tether loan.
Read more »
Real Estate-Backed Stablecoin USDR De-Pegs After Treasury Was Drained of Liquid AssetsNews about digital finance and crypto markets, with commentary and analysis from industry insiders.
Read more »
Real USD (USDR) stablecoin depegs and price crashes by 50%The Real USD stablecoin has lost its peg and the stablecoin is now undercollateralized if you exclude the project's own token.
Read more »
USDR Issuer to Salvage Failed Property-Backed Stablecoin’s Assets, ‘Make Users Whole’Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
Read more »