Tether, the largest stablecoin issuer, has appointed its current Chief Technology Officer Paolo Ardoino as its new CEO. The move comes as Tether aims to provide real-time transparency into its reserves beginning in 2024.
Keypoints
- Tether’s current CTO Paolo Ardoino is set to become the new CEO of the stablecoin issuer.
- The leadership change comes at a crucial time as Tether faces ongoing criticism about lack of reserve transparency.
- Tether aims to provide real-time data on its reserves starting in 2024, marking a major shift toward enhanced transparency.
- Tether remains dominant in the stablecoin market, accounting for over 60% of the total market cap.
- Recently Tether has faced scrutiny over its relationship with failed crypto exchange FTX and stablecoin minting.
Tether has faced persistent criticism from regulators and the crypto community over its lack of reserve transparency. It currently publishes attestations…
