Recently, Tether made a major announcement: the appointment of Paolo Ardoino, their current CTO, as CEO. The arrival of Paolo Ardoino as the main decision-maker marks a turning point in the crypto company’s strategy. The programmer was a pillar in its enormous growth, since when he took over as technical director, the capitalization of the crypto giant Tether was “only” $350 million. A sum that seems derisory when we see the 84 billion they have accumulated since. His position therefore seems logical. However, between the arrival of an expert who no longer has anything to prove at his head, and the company’s desire for expansion, we can wonder if this announcement is a simple change of team or a real shift.
Paolo Ardoino: the technical expert
First of all, who is this new leader? Answer as simple as it is impressive: the technical director of Tether since 2018 has also been the technical director of Bitfinex since March 2015. After more than 8 years of experience in the crypto ecosystem and more precisely in the technical paradigm of very large entities, there is no doubt that this engineer is capable of a lot, but also of great things. A doubt still persists: leading teams of programmers with so much experience seems almost natural… But what about managing a business? He seems visibly very confident about his future, and appears with full mastery of his subject on the stage of the Plan B Forum in Lugano, the first big event in which he speaks since the announcement.
He will confide that despite being involved in a role that involves more management, and a little less coding itself, he remains passionate about what he does. He will even admit to publishing advice and help kits on Github, the platform loved by every developer, blockchain or not. We clearly feel in his speech that Paolo is ready to take the place of CEO and honor it as it should be. That said, one project stands out a lot in the mouths of fans and employees of Tether during the Forum in Lugano: “Keet”.
Keet.io, THE crypto project of the Ardoino mandate?
Keet.io is a project born from a partnership between Tether, Bitfinex and Hypercore. It aims to allow everyone to communicate in a completely encrypted manner. But this project is actually only a small part of a much larger project: Holepunch. With the ambition of giving everyone the opportunity to create peer-to-peer applications, this project is particularly close to the heart of Tether’s new CEO. We now understand where Paolo Ardoino’s skills and Tether’s desire for expansion meet. The real flagship project of the coming months, and which will mark the biggest project of the new CEO’s mandate, is not Keet.io, but more generally Holepunch. We can also see on his personal Twitter, as a pinned Tweet, a fairly explicit meme on the programmer’s vision of this project:
Conclusion, what to expect?
In short, the arrival of this new head as general manager of the company seems to mark a point of renewal within the latter’s activities. After brilliantly penetrating the stablecoin market and taking the place of undisputed leader, Tether is turning to other issues to resolve.
Should we therefore think that Tether will deviate from the market that currently supports it? The obvious answer is no. However, it must be said that the direction that the company will take in the coming months will change and that new subjects are on the table.
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
