Tether, the company behind the largest stablecoin, said Friday its chief technology officer, Paolo Ardoino, will become chief executive in December.
Current CEO Jean-Louis van der Velde will transition to an advisory role for Tether and retain his position as chief executive for Tether’s sister company Bitfinex, a crypto exchange.
Ardoino has acted as the public face of Tether for years. He joined Bitfinex in 2014 and became Tether’s CTO in 2017. The company said he helped grow its eponymous stablecoin’s market cap, which stood at over $83 billion as of Friday morning, according to crypto data provider CoinGecko.
