Paolo Ardoino: a leader reshaping the global financial landscape

The year 2025 became a turning point for the cryptocurrency industry, with Paolo Ardoino at the center of the transformation. As the head of Tether, the company controlling the ecosystem of the world’s largest stablecoin, he has led Tether’s evolution from a traditional digital asset issuer into an architect of new financial infrastructure, blurring the lines between blockchain innovations and institutional banking power.

Regulatory Winds in Favor: Stablecoins Gain Status

The stablecoin sector has entered a phase of official recognition, becoming one of the most dynamic success stories of the crypto industry in the past year. The decisive moment was the passage of the GENIUS Act — the first major federal legislation in the US regulating digital assets. This law drew the attention of leading Wall Street investment houses and the traditional financial sector, establishing clear parameters for issuer activities.

Ardoino quickly seized the opportunity. In September 2025, Tether introduced USAT — a stablecoin specifically designed to meet American regulatory standards. This was a historic moment: for the first time, the company launched a product based on a formal American regulatory framework, demonstrating a significant leap forward for both Tether and the industry as a whole.

To ensure the project’s reliability, Tether engaged Cantor Fitzgerald — one of the largest investment firms, led by a figure with direct access to the US political establishment. Additionally, the company leveraged the experience of Anchorage Digital, a federally licensed crypto bank, as the issuer of USAT. Ardoino appointed Bo Hines, who previously served as an advisor to the White House on cryptocurrency issues, as head of the new division — another indicator that the company is engaging with lawmakers on their turf.

By October 2025, the total market capitalization of stablecoins reached a historic milestone — $300 billion, a 45% increase over the year. USDT maintained a dominant position with a 60% market share by the end of November, reflecting Ardoino’s strategic success in strengthening the flagship’s position.

Balance Sheet Transformation: From Token to Financial Empire

Paolo Ardoino’s influence extends far beyond the stablecoin business. Under his leadership, Tether has made a qualitative shift — from a simple issuer to a full-fledged financial institution with unprecedented liquidity resources.

According to data Ardoino disclosed in Q3 2025, Tether’s profit exceeded $10 billion with an astonishing profit margin of 99%. These enormous financial capabilities have allowed the company to operate as an investment fund and a development bank — in essence, without officially naming these roles.

The scale of ambitions is revealed in the investment portfolio: by July 2025, Ardoino announced that Tether’s portfolio covered over 120 companies financed from its profits. The company applied for investment fund status in El Salvador, where its headquarters are located and where Tether previously supported projects in sustainable Bitcoin mining.

The most ambitious direction has been expansion into the cryptocurrency mining sector. In May, Ardoino declared plans to transform Tether into the world’s largest Bitcoin miner by the end of 2025, investing two billion dollars in energy production and mining operations. As a strategic move, the company acquired 70% of the shares of the Brazilian agribusiness company Adecoagro to develop efficient mining operations utilizing excess renewable energy.

An unexpected turn was Tether’s focus on physical assets. The company began negotiations with global mining conglomerates about investments in the gold value chain — from refining to trading. In June, Tether acquired a stake in Elemental Altus, a company specializing in precious metals investments. The company’s balance sheet now holds gold valued at $12.9 billion. At the Bitcoin 2025 conference in May, Ardoino described gold as a “natural Bitcoin” — a metaphor emphasizing its perception as an indestructible store of value.

From Digital Assets to Cultural Power: Juventus as a Symbol

Alongside its financial expansion, Ardoino is implementing a completely different but equally strategic initiative — strengthening Tether’s position in the Italian football club Juventus. Based in Turin, Ardoino’s hometown, Juventus holds a legendary place in European and world football, being one of the iconic sports brands.

In February 2025, Tether acquired 8.2% of the club’s shares, and by April increased its stake to over 10%, becoming the second-largest shareholder. Unlike the mass wave of crypto companies in 2021-22, which were content with placing their logos on stadiums or jerseys, Tether aims for an active role in corporate governance, demanding participation in capital decisions and representation on the board of directors.

The investment in Juventus symbolizes a broader strategy by Paolo Ardoino — building global influence that extends far beyond the crypto sector into traditional capital, sports, and culture. It demonstrates how a leader in the crypto industry leverages Tether’s financial power to create a multidisciplinary empire.

The overall portrait of Ardoino’s activities in 2025 shows a transformation from a simple company executive into an architect reshaping the boundaries between financial systems, infrastructure, and global culture. His influence on the geopolitics of the cryptocurrency sector and beyond will continue to shape the industry’s trajectory in the coming years.