Tether named Paolo Ardoino its chief executive on October 13, 2023. Tether's release said Ardoino would take the helm from December 20231. Jean-Louis van der Velde, the outgoing chief executive, moved into an advisory role at Tether. He kept his post as chief executive of Bitfinex. CoinDesk reported on October 13, 2023 that USDT's market value had grown from under $100 million to $83.5 billion during Ardoino's years at the firm2.
One of Tether's 7 leadership moves on the record came in 2023
Leadership moves CryptoLately has verified at Tether, by year
- 2023: 1
- 2019, 2020, 2021, 2022, 2024, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 0 |
| 2020 | 0 |
| 2021 | 0 |
| 2022 | 0 |
| 2023 | 1 |
| 2024 | 0 |
| 2025 | 3 |
| 2026 | 2 |
17 CEO appointments on the record in 2023
CEO appointments CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2023: 17
- 2019, 2020, 2021, 2022, 2024, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 8 |
| 2020 | 7 |
| 2021 | 6 |
| 2022 | 18 |
| 2023 | 17 |
| 2024 | 26 |
| 2025 | 35 |
| 2026 | 18 |
The move
Van der Velde named the reason for the handover in Tether's own words. “Paolo is extremely well-suited to lead Tether into this exciting new era,” van der Velde said. “I believe Tether is poised to continue its rapid growth, with a continued focus on emerging markets and transformative technology.”1 Ardoino answered with his own account of the job ahead. “It's truly an honor to be entrusted with the role of CEO at Tether,” Ardoino said. “I'm excited to lead our team as we continue to innovate and provide stability in the cryptocurrency and global space.”
Before and after the handover
Ardoino joined Bitfinex in 2014 and became Tether's chief technology officer in 2017, a role he held while the firm's market value grew1. CoinDesk's report noted that Ardoino kept his technology posts at Bitfinex and at Holepunch alongside the new title. Van der Velde stayed on as Bitfinex's chief executive2. He had managed Tether's relationships with regulators worldwide, Tether's release said, and would keep advising on that front.
What came next
By March 12, 2026, more than two years after the handover, Ardoino still held the chief executive title. Tether's release on March 12, 2026, about a change in its investment team, named him "CEO of Tether" and carried his statement on Richard Heathcote, the departing chief investment officer3. GuruFocus, reporting on March 13, 2026, put USDT circulation at about $184 billion. That compares with the $83.5 billion market value CoinDesk had cited at Ardoino's October 2023 promotion42.
Sources
- Tether, "Tether Appoints Paolo Ardoino as CEO," Tether, Oct. 13, 2023, https://tether.io/news/tether-appoints-paolo-ardoino-as-ceo/
- "Tether Promotes Paolo Ardoino to CEO," CoinDesk, Oct. 13, 2023, https://www.coindesk.com/business/2023/10/13/tether-promotes-paolo-ardoino-to-ceo
- Tether, "Tether Names Zachary Lyons as CIO; Richard Heathcote Transitions to Advisory Role After Guiding Investment Expansion," Tether, Mar. 12, 2026, https://tether.io/news/tether-names-zachary-lyons-as-cio-richard-heathcote-transitions-to-advisory-role-after-guiding-investment-expansion/
- "Tether CIO Steps Down as Firm Oversees $184B USDT Stablecoin," GuruFocus, Mar. 13, 2026, https://www.gurufocus.com/news/8706347/tether-cio-steps-down-as-firm-oversees-184b-usdt-stablecoin