Paolo Ardoino
Italian software engineer and executive; chief executive of the stablecoin issuer Tether and chief technology officer of Bitfinex
| Paolo Ardoino
| |
|---|---|
| Born | 22 10 1984 (age 42 years old (as of 2026)
) (Forbes) |
| Occupation | Technology executive |
| Known for | CEO of Tether (from December 2023); CTO of Bitfinex |
| Education | University of Genoa (computer science, 2008) |
Paolo Ardoino (born 1984) is an Italian software engineer. He has been chief executive of Tether, the largest stablecoin issuer, since December 2023, and is also chief technology officer of the cryptocurrency exchange Bitfinex.[1] Forbes estimates that he owns about 19% of Tether.[2] On 20 October 2026 the Forbes Real-Time Billionaires list ranked Paolo Ardoino 57th in the world (tied with Jean-Louis van der Velde), with an estimated net worth of US$38 billion; Forbes lists the source of wealth as Cryptocurrency.[2][3] In the annual World's Billionaires list published in 2026, Forbes had ranked Paolo Ardoino 53rd, at US$38 billion.[4]
Early life and education
Forbes records his date of birth as 22 October 1984 and his citizenship as Italian.[2] His 2018 Bitfinex biography says he graduated in computer science in Genoa in 2008. He then worked as a researcher on a military project on high-availability, self-recovering networks and cryptography. He began building financial applications in 2010 and co-founded Fincluster as chief technology officer in late 2013. Fincluster was a cloud-based financial software firm with clients in London, Milan and Lugano.[5]
Bitfinex and Tether
The Bitfinex biography gives two dates for his arrival: it says he joined "in the beginning of 2015", and also that he joined as a senior software developer in 2014. It says he became Bitfinex's chief technology officer in 2016.[5] Tether's 2023 announcement also dates his move to Bitfinex to 2014, and says he became Tether's chief technology officer in 2017.[1] Forbes says he worked as a programmer before joining Bitfinex as a senior software developer in 2014.[2]
On 13 October 2023 Tether announced that he would succeed Jean-Louis van der Velde as chief executive from December 2023. He would remain chief technology officer of Bitfinex and chief strategy officer of Holepunch. The announcement also named him co-sponsor of the Bitfinex Freedom Manifesto, which promotes Bitcoin and peer-to-peer technology.[1] Tether says it issued nearly US$50 billion of new USDT in 2025 and made net profits of more than US$10 billion. Its year-end attestation was prepared by the accounting firm BDO for Tether International, S.A. de C.V.[6] In January 2025 Tether said it was completing its move to El Salvador after obtaining a digital-asset service provider licence there.[7] Announcing the El Salvador move, Ardoino said the country represented "a beacon of innovation in the digital assets space".[7]
Lugano
On 3 March 2022, while he was Tether's chief technology officer, Tether and the Swiss city of Lugano announced a joint plan for a European centre for blockchain adoption.[8] The Ticino news site tio.ch reported that Ardoino said Tether had chosen Lugano because it is at the centre of Europe and because Switzerland is associated with safety, freedom and efficient institutions. The project was presented as "Lugano PlanB" alongside the mayor, Michele Foletti.[9]
Investments under his leadership
In an interview with Il Sole 24 Ore in February 2025, Ardoino said Tether had bought a minority stake in Juventus Football Club giving it 5% of the voting rights, and had notified the Italian market regulator Consob. He said the aim was partly to diversify Tether's business, and that "In casa Tether siamo tifosi della Juventus" ("At Tether we are Juventus fans"). He also said Tether was 105% collateralised.[10] In April 2025 Tether said it held 10.12% of Juventus's issued share capital and 6.18% of its voting rights.[11] Il Sole 24 Ore reported that in December 2025 Tether Investments made an unsolicited binding offer for the 65.4% of Juventus held by the Agnelli family holding company Exor. Tether already held 11.527%. Exor's board unanimously rejected the offer, saying it would not sell to third parties, including "Tether, con sede a El Salvador" ("Tether, based in El Salvador").[12] In March 2025 Adecoagro, a Luxembourg-registered agricultural producer operating in Argentina, Brazil and Uruguay, announced an agreement under which Tether Investments would buy common shares at US$12.41 each, to reach about 70% of the outstanding shares.[13]
Regulatory actions against Tether and Bitfinex
In February 2021 the New York Attorney General announced an agreement with iFinex, Tether and related companies. The Attorney General said Bitfinex and Tether had misled clients and the market by overstating reserves and hiding about US$850 million of losses. The companies were barred from trading with New Yorkers, required to make quarterly reports on matters including the segregation of corporate and client accounts, and ordered to pay US$18.5 million in penalties.[14] In October 2021 the US Commodity Futures Trading Commission (CFTC) ordered Tether to pay a US$41 million civil penalty over untrue or misleading statements that its USDT stablecoin was fully backed by US dollars. It also ordered Bitfinex to pay US$1.5 million for illegal off-exchange transactions and for operating as an unregistered futures commission merchant.[15] These actions were against the companies, not against individual executives.[14][15]
Wealth
Forbes gives cryptocurrency as the source of his wealth. It estimates his stake in Tether at about 19% (20% in its 2026 list profile).[2] Quote also reported Forbes's estimate that he holds 19%.[16]
Wealth history
Forbes has included this entry in its annual World's Billionaires list in 3 of the editions from 2001 to 2026 checked for this profile, starting with 2024. The table gives the rank and estimated net worth in each annual list.[4][2]
| Year | World's Billionaires rank | Net worth (US$ bn) |
|---|---|---|
| 2024 | 809 | 3.9 |
| 2025 | 293 | 9.5 |
| 2026 | 53 | 38.0 |
Philanthropy
No documented personal philanthropy by Ardoino was found in the sources checked.
Political activity
No political donations, offices or lobbying registrations were found for Ardoino in the sources checked. His public advocacy has been for Bitcoin and peer-to-peer financial technology.[1]
International and political links
This section uses the same ten headings for every profile in this series. Only specific, sourced actions are included; company-level and foundation-level actions are labelled as such. Where nothing was found, the entry reads "No documented involvement found in sources checked."
Israel (investments, operations, donations, contracts, statements)
Company level: in October 2023 Tether said it had frozen 32 addresses linked to terrorism and warfare in Israel and Ukraine. CNBC reported that this was done in cooperation with Israel's National Bureau for Counter Terror Financing.[17][18]
Zionist or pro-Israel organisations and lobbying groups
No documented involvement found in sources checked.
Jewish communal charities
No documented involvement found in sources checked.
Gulf states
No documented involvement found in sources checked.
China
No documented involvement found in sources checked.
Russia
No documented involvement found in sources checked.
India
No documented involvement found in sources checked.
Palestinian or Arab causes
No documented involvement found in sources checked.
Home government
Company level: Tether and Bitfinex settled with the New York Attorney General in 2021 and with the US CFTC in 2021 (see Regulatory actions).[14][15]
Other international links
As chief executive, he led Tether's 2025 move to El Salvador.[7] He also led its stake-building in Juventus and its rejected December 2025 bid for Exor's Juventus shares in Italy.[11][12] Under his leadership Tether agreed to take majority control of Adecoagro, which farms in Argentina, Brazil and Uruguay.[13] In 2022 Tether partnered with the Swiss city of Lugano.[8][9]
See also
External links
Notes
- ↑ 1.0 1.1 1.2 1.3 Tether, Tether Appoints Paolo Ardoino as CEO Tether, 13 October 2023, accessed 20 October 2026.
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 Forbes, Forbes profile record for Paolo Ardoino (Forbes data feed behind forbes.com/profile/paolo-ardoino/) Forbes, live record, read 20 October 2026, accessed 20 October 2026.
- ↑ Forbes, Forbes Real-Time Billionaires data feed Forbes, live; downloaded 20 October 2026 11:51 UTC, accessed 20 October 2026.
- ↑ 4.0 4.1 Forbes, Forbes World's Billionaires list data feed, annual editions 2001–2026 (one file per year at this path with the year substituted; all 26 files downloaded and read) Forbes, annual lists; downloaded 20 October 2026, accessed 20 October 2026.
- ↑ 5.0 5.1 Bitfinex, Bitfinex Leadership: Paolo Ardoino, Chief Technology Officer Bitfinex blog, 12 March 2018, accessed 20 October 2026.
- ↑ Tether, Tether Delivers $10B+ Profits in 2025, $6.3B in Excess Reserves, and Record $141 billion Exposure in U.S. Treasury Holdings Tether, 30 January 2026, accessed 20 October 2026.
- ↑ 7.0 7.1 7.2 Tether, Tether Licensed in El Salvador, Strengthening Focus on Emerging Markets and Innovation Tether, 13 January 2025, accessed 20 October 2026.
- ↑ 8.0 8.1 Tether, The City of Lugano, Switzerland, and Tether Operations Limited Commit to Building a Center of Excellence for Blockchain Adoption in Europe Tether, 3 March 2022, accessed 20 October 2026.
- ↑ 9.0 9.1 tio.ch, A Lugano un centro di eccellenza europeo della tecnologia blockchain (A European centre of excellence for blockchain technology in Lugano) tio.ch, March 2022 (no date shown on page), accessed 20 October 2026.
- ↑ Vito Lops, Ardoino: «Siamo il 18esimo detentore al mondo di Treasury. Il calcio? È per diversificare» (Ardoino: "We are the world's 18th-largest holder of Treasuries. Football? It is to diversify") Il Sole 24 Ore, 19 February 2025, accessed 20 October 2026.
- ↑ 11.0 11.1 Tether, Tether Crosses 10% Stake in Juventus Football Club, Solidifies Position as a Significant Shareholder Tether, 24 April 2025, accessed 20 October 2026.
- ↑ 12.0 12.1 Il Sole 24 Ore, Juventus: il cda di Exor respinge all’unanimità l’offerta di Tether (Juventus: Exor board unanimously rejects Tether's offer) Il Sole 24 Ore, 12 December 2025, updated 13 December 2025, accessed 20 October 2026.
- ↑ 13.0 13.1 Adecoagro, Adecoagro announces it has entered into a Transaction Agreement with Tether Investments Adecoagro investor relations, 27 March 2025, accessed 20 October 2026.
- ↑ 14.0 14.1 14.2 Office of the New York State Attorney General, Attorney General James Ends Virtual Currency Trading Platform Bitfinex’s Illegal Activities in New York New York State Attorney General, 23 February 2021, accessed 20 October 2026.
- ↑ 15.0 15.1 15.2 U.S. Commodity Futures Trading Commission, CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5 Million (release 8450-21) U.S. Commodity Futures Trading Commission, 15 October 2021, accessed 20 October 2026.
- ↑ Bram Zeelte, Is Jean-Louis van der Velde de rijkste Nederlander ooit? 'Dubbel zo rijk als Charlène de Carvalho-Heineken' (Is Jean-Louis van der Velde the richest Dutchman ever? 'Twice as rich as Charlène de Carvalho-Heineken') Quote, 11 March 2026, accessed 20 October 2026.
- ↑ Tether, Tether Freezes 32 Addresses Linked to Terrorism and Warfare in Israel and Ukraine Tether, 16 October 2023, accessed 20 October 2026.
- ↑ MacKenzie Sigalos, Tether freezes 32 crypto wallets holding $873,118 linked to terrorism and warfare in Israel, Ukraine CNBC, 16 October 2023, accessed 20 October 2026.