Paolo Ardoino on Tether's billion-dollar profits and plans to buy bitcoin

Quick Take

  • Tether CTO Paolo Ardoino explores Tether’s plan to venture beyond stablecoin offerings.

Episode 50 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and Tether & Bitfinex CTO Paolo Ardoino.

Listen below, and subscribe to The Scoop on AppleSpotifyGoogle PodcastsStitcher, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected].

Paolo Ardoino is the Chief Technology Officer for Tether and Bitfinex.

In this episode, Ardoino talks through Tether's treasury management strategy, including the firm's recently announced bitcoin purchases and how the firm is planning to use the $1.5 billion in profit generated during Q1 of this year.

According to Ardoino, Tether's recent profitability is prompting the firm to diversify:

“The beauty of our next period plan is that we can start diversifying ourselves from the pure stablecoin offering and become a more round tech provider that that requires expertise in many important fields. So energy, communication, financial infrastructure are going to be the key of the next six to 12 to probably 48 months.”


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Despite the bear market, the market cap of USDT is currently near its all-time high of $84.1 billion.

During this episode, Chaparro and Ardoino also discuss:

  • Why USDT is so popular on Tron
  • Tether's key to success in emerging markets
  • The US default and how Tether is positioning

This episode is brought to you by our sponsor CleanSpark.

About CleanSpark

CleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner™. Visit to learn more about the CleanSpark way.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.
Frank Chaparro is the Editor At Large at The Block. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. He runs his own podcast The Scoop and writes a biweekly eponymous newsletter. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected].