Paolo Ardoino
Paolo Ardoino | |
|---|---|
| Born | Italy |
| Nationality | Italian |
| Education | University of Genoa |
| Occupation | Computer scientist |
| Known for | Tether and Bitfinex |
Paolo Ardoino is an Italian computer scientist. He is the Chief Executive Officer of Tether,[1] Chief Technology Officer (CTO) of Bitfinex, and Chief Strategy Officer of Holepunch.[2]
Early life and education
[edit]Ardoino began coding at the age of eight. He obtained a bachelor's degree in Computer Science from the University of Genoa.
Career
[edit]After completing his education, Ardoino worked on multiple research projects involving cybersecurity and cryptography for military applications.[1]
Ardoino moved to London in 2013, where he founded Fincluster, a technology startup that built cloud-based financial service applications for fund managers and institutions across London, Milan, and Lugano.[3]
In 2014, Ardoino joined Bitfinex as Senior Software Developer. Two years later in 2016, he transitioned to the role of CTO.[4]
In 2017, Ardoino became chief technology officer of Tether.[1] He later became the chief executive of Tether in 2023. Under Ardoino, Tether's flagship stablecoin, USDT, has grown to become the first and largest United States dollar-backed stablecoin by market capitalization,[5] and Bitfinex is the world's second largest exchange by number of Bitcoin held in its digital wallet.[6]
In 2022, Ardoino founded Holepunch, an open-source platform designed for building P2P products with computer scientist Mathias Buus.[2]
Under Ardoino, Tether invested approximately $2.5 billion in sustainable energy and technology sectors, while leaving reserves untouched. Tether invested $1 billion in artificial intelligence infrastructure company Northern Data[7] and $200 million in Blackrock Neurotech, an American brain implant company, taking a majority stake.[8] Ardoino directs these investments to come from Tether's profits, not its customer reserves.[3]
Under Ardoino, Tether intends to invest more than $1 billion into alternative financial infrastructure for emerging markets, artificial intelligence, and biotech through June 2025.[7]
In March 2022, Ardoino worked with Michele Foletti, the mayor of Lugano, Switzerland,[9] to accept Tether and other cryptocurrencies for municipal payments.
Under Ardoino, Tether has supported El Salvador's Volcano Energy renewable power project[10] aimed at supporting the country's Bitcoin adoption, which aims to raise up to $1 billion.
Ardoino has also led Tether to invest in the growth of renewable energy and sustainable Bitcoin mining in Uruguay.[11][12]
Under Ardoino, Tether has collaborated with law enforcement to crack down on crypto-based scams, including a $225 million pig-butchering scam.[13]
References
[edit]- ^ a b c Howcroft, Elizabeth (2023-10-13). "Stablecoin Tether appoints chief technology officer Ardoino as CEO". Reuters. Retrieved 2024-06-12.
- ^ a b "Connecting Asia's startup ecosystem". Tech in Asia. Retrieved 2024-06-12.
- ^ a b Bambysheva, Nina (2024-05-09). "How Crypto Giant Tether's New CEO Is Remaking The Company For The Apocalypse". Forbes. Retrieved 2024-09-16.
- ^ "CityAM". 2021-02-05. Retrieved 2024-06-12.
- ^ Browne, Ryan (2023-05-17). "Tether buys bitcoin with a portion of its net profit to back USDT stablecoin". CNBC. Retrieved 2024-06-12.
- ^ "As banks buy up bitcoins, who else are the 'Bitcoin whales'?". BBC Home. 2024-03-01. Retrieved 2024-06-12.
- ^ a b Kharif, Olga (2024-06-11). "Tether to Invest More Than $1 Billion in Deals Over Next Year". Bloomberg.com. Retrieved 2024-09-16.
- ^ Howcroft, Elizabeth (2024-04-29). "Crypto company Tether invests $200 mln in brain-chip maker Blackrock Neurotech". Reuters. Retrieved 2024-06-12.
- ^ Benrath, Bastian (2023-12-06). "Taxpayers in Swiss City Can Settle Bills With Bitcoin, Tether". Bloomberg. Retrieved 2024-02-26.
- ^ "El Salvador Bitcoin city planned at base of Conchagua volcano". BBC Home. 2021-11-21. Retrieved 2024-06-12.
- ^ Browne, Ryan (2023-05-30). "Stablecoin giant Tether to mine bitcoin in Uruguay using renewable energy". CNBC. Retrieved 2024-06-12.
- ^ Bhardwaj, Shashank (2023-05-31). "Tether To Use Renewable Energy For Bitcoin Mining In Uruguay". Forbes India. Retrieved 2024-06-12.
- ^ Waterman, Shaun (2023-12-07). "U.S. prosecutors call huge crypto fraud seizure a "game changer"". Newsweek. Retrieved 2024-09-16.