Key Highlights:
🔄 Leadership Revamp: Paolo Ardoino, once Tether’s CTO, is set to step up as CEO this December, replacing Jean-Louis van der Velde.
💡 Diversified Ambitions: Tether eyes new horizons, from peer-to-peer communications and green energy to innovative data storage and aggressive Bitcoin mining ventures.
⛏️ Mining Ventures: After kickstarting a Bitcoin mining operation in Uruguay, Tether further bolstered its position by collaborating with German crypto miner, Northern Data Group, in 2023.
Tether, renowned for issuing the globe’s predominant stablecoin by market cap, is gearing up for a significant change at the helm. So, what’s cooking in the Tether world? 🤔
Meet the New Boss
Paolo Ardoino, the tech whiz who’s held the reins as Tether’s CTO since 2017, is set to don the CEO hat this coming December. Mark your calendars, folks! 📅 But, where’s Jean-Louis van der Velde, the current CEO, headed? Well, he’s not going too far! Jean-Louis will still be sharing his expertise with Tether, albeit in an advisory capacity. Meanwhile, he’ll retain his chief role at Tether’s sibling firm, Bitfinex.
And guess what? Ardoino isn’t just stopping at the CEO role. He’s a multitasker! Continuing his pivotal roles as Bitfinex’s CTO and the strategy kingpin for the Bitcoin layer 2 solution, Holepunch, Ardoino remains the go-to tech guy for Tether, according to insiders.
I'm truly excited and humbled to take the role as CEO at #Tether.
— Paolo Ardoino 🍐 (@paoloardoino) October 13, 2023
During my journey, started in 2014 with Bitfinex and later in 2017 at Tether, I had the opportunity to meet wonderful people, that became great friends and a family. And as a family we achieved incredible results.… https://t.co/iaDbeKWIk3
🔥 Our music 🔥
Why the Change, You Ask?
The word on the street is that Tether is eager to diversify and break new ground. From dabbling in peer-to-peer chatter and green energy to futuristic data storage and diving deeper into the Bitcoin mining ocean, Tether’s aspirations are as high as the sky. 💡
The Natural Evolution Ardoino has been the key player in mapping Tether’s trajectory over the recent years. Hence, his rise to the CEO chair is nothing short of a “natural progression,” insiders claim. His profound impact, ranging from Holepunch and Bitcoin mining to hardware mastery and AI insights, make him the ideal fit. And let’s not forget his zealous efforts to champion freedom and innovation, earning him a top spot among crypto influencers.
Tether seems bullish on Ardoino’s vision, foreseeing the company as a technological juggernaut that’s all set to redefine the sector.
“Paolo visualizes Tether not just as a company, but as a technological pillar primed to transform the industry and play a vital role in shaping resilient urban and national landscapes,” expressed a Tether rep.
The cherry on top? Tether’s ambitious blueprint also involves magnifying the influence of USD and Bitcoin in global commerce. 🌍
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Tether’s Foray into Bitcoin Mining
Earlier in 2023, Tether had made headlines with its burgeoning Bitcoin mining ventures. Starting off with launching a mining unit in the scenic terrains of Uruguay in May, the firm’s aggressive stance in the Bitcoin mining realm was palpable. And they didn’t stop there! August saw them introducing the Tether BTC mining software, aiming to optimize mining resource management. 🛠
Furthermore, Tether didn’t shy away from global collaborations. September witnessed them backing the German crypto mining giant, Northern Data Group, signaling a firm endorsement for AI-driven ventures.
Sergio Richi
Editor, Logll Tech News