Paolo Ardoino, former CTO of Tether, becomes CEO. In Tether’s future, the centrality of USDT and expansion into the energy sector.
Paolo Ardoino, previously chief technology officer (CTO) of Tether, has been appointed CEO of the company, replacing Jean-Louis van der Velde, who will take on a consulting role.
A valued contributor to the development of Tether’s technological infrastructure since 2017, Ardoino took the reins of the company in December 2023. Despite the new role as CEO, Ardoino will continue to perform his duties as CTO of Bitfinex (Tether’s parent company) and the Head of Strategy at Holepunch, a platform for building peer-to-peer (P2P) applications supported by Bitfinex, Tether, and Hypercore.
Tether’s vision
According to the press release, Ardoino sees Tether not only as a simple stablecoin issuer, but as an engraver and a driving force in “reshaping the future of finance”. In the past two years, Tether has introduced innovations in its business model, including bitcoin mining initiatives and participation in the infrastructure configuration of numerous cities.
In 2023, Tether’s Holepunch launched Keet, a P2P encrypted video call application. In addition, the company aims to expand its presence in the energy sector. This year, Tether has started energy production and Bitcoin mining in Uruguay in collaboration with a local company, and invested in the first funding round of $250 million for Max Keiser’s startup Volcano Energy, which plans a mining farm in El Salvador.
A look at the future of Tether
According to Ardoino, Tether’s USDT will continue to remain a core product for the company. At the same time, Tether plans to develop further P2P applications and explore new frontiers in the field of energy production and bitcoin mining. The company continues to focus its interest on the creation of financial technologies and envisages in the future launch, a platform with a focus on real assets.
