Stablecoin issuer Tether (CRYPTO: USDT) announced on Friday the appointment of Paolo Ardoino as its CEO, effective from December 2023.

He will succeed Jean-Louis van der Velde, who will remain involved in an advisory capacity while maintaining his CEO position at crypto exchange Bitfinex.

In connection with the leadership shift, insiders point to the upcoming Benzinga's Future of Digital Assets conference on Nov. 14, where such strategic moves in the crypto space will be a focal point of discussion.

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On the transition, van der Velde noted, "Paolo is extremely well-suited to lead Tether into this exciting new era.”

In June 2022, Tether's subsidiary, Holepunch, introduced an encrypted video-calling platform named Keet.

Ardoino in an interview with The Block then said that both Tether and Bitfinex dedicated half a decade and approximately $10 million towards the creation of Holepunch and Keet.

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