Tether moving into infrastructure, energy production, CEO Ardoino says - New Style Motorsport

Tether will build renewable energy facilities in Uruguay and El Salvador, the new CEO told Cointelegraph.

Paolo Ardoino became CEO of Tether on Dec. 1, moving up from the position of chief technology officer,

which he had held since 2017. His appointment was planned well in advance and comes as the company is prioritizing diversification and expansion.

It’s a good time for the company. Tether is on track to make $4.5 billion in profits with its main business

this year, Ardoino said. He spoke to Cointelegraph about changes coming up in the company’s product line and its overall orientation.

“As we are going to show in the next quarter, Tether is much more than USDT
USDTtickers down$1.00

,” Ardoino said. For one thing, Tether will increasingly become an infrastructure provider.

Ardoino likes “the premise of Web3,” he said, but he was less pleased with its implementation, calling it a bubble:

“There is some talk about real-world assets, but what I think is more important is a real-world ecosystem.”
Innovations coming from the crypto world “should almost be masked” from the public, which cares about what technology does, not how it works, Ardoino said. He was particularly enthusiastic about the

communications app Keet and its platform Holepunch, where he is chief strategy officer.

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