<\/p>\n
Paolo Ardoino will take the helm as CEO of Tether from Jean-Louis van der Velde in December.<\/p>\n
Ardoino took on the role of chief technology officer back in 2017 after joining the company in 2014. Van der Velde, who also co-founded Bitfinex, will stay on as an advisor but will retain his role as CEO of Bitfinex.<\/p>\n
\u201cI\u2019m excited to lead our team as we continue to innovate and provide stability in the cryptocurrency and global space. Together with our community, we can build a future that lifts the barriers to our freedoms. We remain committed to transparency, security, and to being an unstoppable force in the seamless integration of digital assets into the global financial ecosystem and beyond,\u201d Ardoino said.<\/p>\n
Ardoino is also chief technology officer of Bitfinex<\/a> as well as chief strategy officer at Holepunch.\u00a0<\/p>\n \u201cAt Bitfinex, Ardoino played a pivotal role in enhancing the platform\u2019s Bitcoin trading capabilities, rapidly earning recognition for his dedication and profound knowledge of blockchain technology,\u201d the post said.<\/p>\n According to a Tether<\/a> spokesperson, Ardoino will continue to oversee the technology department for now.<\/p>\n \u201cThis strategic transition has been meticulously planned, aligning seamlessly with Tether\u2019s long-term strategy,\u201d the blog said.<\/p>\n Tether said its market cap is at $83 billion currently. In its last attestation report \u2014 released in July \u2014 the company reported excess reserves of $3.3 billion as of late June<\/a>.\u00a0<\/p>\n Back in late August, Coinbase suspended USDT trading<\/a> in Canada. At the time, a Coinbase spokesperson told Blockworks that the change came because the company monitors \u201cthe assets on our exchange to ensure they meet our listing standards.\u201d<\/p>\n Don\u2019t miss the next big story \u2013 join our\u00a0free daily newsletter<\/a>.<\/strong><\/p>\n
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