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Stablecoin Tether appoints chief technology officer Ardoino as CEO

Crypto firm Tether’s Chief Technology Officer Paolo Ardoino will also become its CEO from December 2023, the company said on Friday, in a surprise management shake-up for one of the crypto world’s top tokens. Current CEO, Jean-Louis van der Velde, will “transition to an advisory role for Tether”, the company said in a statement. Tether issues a stablecoin, also called Tether, which is designed to maintain a 1:1 dollar peg and is widely used in crypto-to-crypto trading. There is $83.5 billion worth of Tether in circulation, making it the third-biggest cryptocurrency after bitcoin and ether, according to CoinGecko.

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