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Tether's CTO to become CEO in surprise management shake-up

Tether's Chief Technology Officer, Paolo Ardoino, will take over as CEO from December, the company announced on Friday. The current CEO, Jean-Louis van der Velde, will transition to an advisory role. Tether issues a stablecoin, also called Tether, which is widely used in crypto-to-crypto trading and has $83.5 billion worth of tokens in circulation, making it the third-largest cryptocurrency after bitcoin and ether. Ardoino, who became CTO in 2017, is known as the public face of the company and has a background in computer science and cryptography.

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