Tether has appointed Simon McWilliams as its new Chief Financial Officer (CFO) to lead its efforts toward a full financial audit, reinforcing its commitment to transparency.
As part of a broader transition, former CFO Giancarlo Devasini will assume the role of Chairman, concentrating on macroeconomic strategy and spurring further institutional engagement for Tether. Devasini, who joined Tether in 2019, played a pivotal role in establishing the company's regulatory and institutional footprint.
During his tenure, he oversaw the company's rapid growth from a startup to a leading financial institution with $154 billion in assets under management and over 400 million users.
Devastini was instrumental in securing the company's U.S. banking licenses, a crucial step in integrating Tether into the mainstream financial system.
He was also key in forging partnerships with leading institutions and establishing a robust legal and compliance framework.
“We are pleased to welcome Simon McWilliams as our new CFO. Simon's extensive experience in handling complex financial organizations will be invaluable as we continue to expand our institutional footprint and engage with regulators around the world. We are also grateful to Giancarlo Devasini for his leadership and contributions to Tether's growth. In his new role as Chairman, Giancarlo will bring his deep understanding of the crypto industry to bear on our macroeconomic and institutional engagement efforts,” said Paolo Ardoino, Chief Technology Officer at Tether.
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