Paolo Ardoino: from CEO to protagonist of the global financial transformation

In 2025, Paolo Ardoino solidified his role as one of the most influential figures in the digital financial revolution. Throughout the year, the CEO of Tether orchestrated a strategic transformation that goes far beyond issuing stablecoins, positioning the company and himself as central players in the convergence of blockchain innovation and traditional finance. With USDT maintaining a market capitalization of $185 billion, Tether has become the infrastructure upon which much of the global crypto trading is built.

Paolo Ardoino’s Regulatory Strategy: from USDT to USAT

The growth of the stablecoin sector in 2025 represents one of the industry’s most significant success stories, accelerated by the adoption of formal regulatory frameworks worldwide. In the United States, the GENIUS Act — the first major bill dedicated specifically to cryptocurrencies — became law in July after attracting the attention of traditional financial institutions and Wall Street giants.

Anticipating this regulatory opening, Paolo Ardoino introduced USAT, a stablecoin designed specifically to comply with American standards. This product marks a turning point: the first time Tether has launched an offering built around a U.S. regulatory framework. This move demonstrates how Ardoino is leading the evolution of both the company and the entire sector, shifting from historical criticisms of USDT to a position of regulatory compliance.

Paolo Ardoino told CoinDesk that USAT was conceived to “create a more professional and digital approach to money capable of competing with PayPal.” To realize this vision, he recruited global-level partners: Cantor Fitzgerald — whose former CEO Howard Lutnick is currently the U.S. Secretary of Commerce — as the reserve custodian, and Anchorage Digital as the issuer. He also selected Bo Hines, a former White House crypto advisor, to lead the USAT division. These choices demonstrate how Ardoino is building strategic relationships with top figures in politics and traditional finance.

The total market capitalization of stablecoins reached $300 billion in October, growing over 45% since the beginning of the year. USDT maintained a dominance of 60% at the end of November, positioning Paolo Ardoino as the de facto custodian of the digital currency market.

From Token Issuer to Infrastructure Provider: Paolo Ardoino’s Multi-Sector Strategy

Under Paolo Ardoino’s leadership, Tether has undergone a radical transformation. It is no longer just a token issuer but a financial entity leveraging extraordinary profits to build a diversified global footprint. In Q3 2025, Tether recorded profits exceeding $10 billion with a profit margin of 99%, providing Ardoino with unprecedented liquid resources.

With these funds, Paolo Ardoino transformed Tether into an entity similar to an investment bank, even though it still lacks that official designation. The investment portfolio grew to over 120 companies by July. Ardoino applied for a license as an investment fund in El Salvador, where Tether is headquartered.

Ardoino’s ambition in the mining sector is particularly bold. In May, he announced plans to make Tether the largest Bitcoin miner by the end of the year, with $2 billion invested in energy production and mining operations. Throughout 2025, Tether acquired a 70% stake in Adecoagro, the large Brazilian agricultural company, to explore BTC mining using excess renewable energy. This initiative highlights how Ardoino is integrating energy sustainability with blockchain innovation.

Ardoino’s mining interests extend beyond digital assets to physical gold. He has led discussions with mining companies for investments in the gold supply chain, from refining to trading. Tether has acquired a stake in Elemental Altus, a precious metals investment firm, and currently holds $12.9 billion in gold. In a speech at Bitcoin 2025 in May, Ardoino described gold as “the bitcoin of nature,” indicating how he envisions a convergence between traditional and digital assets.

Paolo Ardoino Brings Tether into Italian Football: Expansion Towards Juventus

One of Ardoino’s most surprising moves has been Tether’s expansion into professional sports. In February 2025, Tether acquired an 8.2% stake in Juventus, the historic Turin football club — Ardoino’s hometown. The stake grew to over 10% in April, making Tether the second-largest shareholder.

Unlike previous attempts by crypto companies to gain sports visibility, Ardoino sought an active role in governance of one of the world’s most prestigious football clubs. He requested to participate in Juventus’s capital increase and to secure a seat on the board of directors. This strategy demonstrates Ardoino’s desire to build influence that transcends the crypto sector, extending into major cultural and sporting institutions worldwide.

The Legacy of Paolo Ardoino: From Controversial Figure to Financial Architect

Ardoino’s rise in 2025 represents a broader transformation. Once, Tether was a company surrounded by doubts about the transparency of the reserves backing USDT. Under Ardoino’s leadership, the company has capitalized on global regulatory advances to reinvent itself as a reliable provider of financial services, backed by top-tier institutions and prominent political leaders.

Ardoino’s strategy demonstrates a consistent vision: eliminate boundaries between digital and traditional finance, diversify risk through real assets (gold, mining, infrastructure), and build influence in seemingly unrelated sectors like professional sports. Whether through regulatory compliance in the USA or mining acquisitions in Brazil, each move appears part of a larger plan orchestrated by Ardoino to position Tether and himself as indispensable players in the new global financial architecture.