Stablecoin Tether promotes tech chief to CEO, taking over from mysterious crypto leader
Publishing timestamp: 2023-10-13 10:10:51
Summary
Paolo Ardoino has been promoted to CEO of Tether, one of the largest stablecoin operations in the world. He will succeed Jean-Louis van der Velde, who will take on an advisory role at Tether while remaining CEO of Bitfinex. Tether has faced scrutiny over transparency, and Ardoino has been the public face of the company. Tether's reserves have grown to over $86 billion, and the company settled with the New York Attorney General's office for $18 million. Tether is also facing regulatory scrutiny from the U.S. Department of Justice.
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