What kind of person is the mysterious Italian who controls Bitcoin behind the scenes?



The price of Bitcoin, a cryptocurrency asset, has risen significantly in recent years, reaching a record high on February 16, 2021 for the first time on the

50,000 dollar mark (about 5.3 million yen). Often go up the name in the fraud and scandal surrounding such bit coin Giancarlo Debashini about a man named Mr., it is an Italian journalist who specializes in financial business Nicolas Borutsui Mr. has explains.

Bitfinex, the Italian network behind the boss that makes Bitcoin tremble | by Nicola Borzi | Feb, 2021 | Medium
https://nicolaborzi.medium.com/the-lawless-rollercoaster-of-bitcoin-enriches-few-investors-while-many-often-lose-everything-f9b4789444c2

In 2019, John Griffin, a professor of economics at the University of Texas at Austin, said, 'When Bitcoin soared in 2017, Bitcoin was being priced on the crypto asset exchange Bitfinex.' Published a paper to accuse. He pointed out that as the price of Bitcoin fluctuated, the dollar and pegged crypto asset tether had flowed into Bitfinex in an unnatural way. The Chief Financial Officer (CFO) of Bitfinex is Mr. Devassini.

Pointed out that virtual currency and tether were used for price fixing of Bitcoin --GIGAZINE



According to Borzi, Devassini was born on April 30, 1964 in Turin, Italy, and became a plastic surgeon after earning a doctorate in medicine from the University of Milan in 1990. After that, Mr. Devassini, who resigned as a doctor in 1992, started a series of companies that import computer parts from China and closed them one after another. In addition, a company called Point G Srl established by Mr. Devassini at this time was charged by Microsoft in 1996 for 'selling a pirated version' and 100 million Italian lira (50,000 euros / about 6.47 million when converted to the value at the time of writing the article) In addition to being ordered to pay (yen), Japanese electronics manufacturer Toshiba also sued Mr. Devassini's company for patent infringement in 2007.

After that, in 2014, Mr. Devassini established Tether, which handles tethers in the British Virgin Islands, in collaboration with other business owners. The following year, in 2015, he founded Bitfinex's parent company, DigiFinex, with Rodolfo Fracassi, the successor to the Italian liquor maker.



After that, Bitfinex will have many problems from around 2016. On August 2, 2016, it was discovered that 119,756 Bitcoins had been stolen from Bitfinex. 119,756 Bitcoin is about 6.5 billion yen at the rate at that time, but it is equivalent to about 571.4 billion yen at the rate of February 2021.

In 2018, Bitfinex and Tether were also charged with judicial authorities for using $ 700 million worth of tether to cover losses on their payment service, Crypto Capital. The proceedings were settled in February 2021 in the form of 'Bitfinex et al. Pay a fine of about 1.9 billion yen.'

Bitfinex and Tether pay a fine of about 1.9 billion yen and settle with New York Attorney General-GIGAZINE



In addition to this, Mr. Devassini established Bluebit Capital Partners , a cryptocurrency fund management company in Luxembourg in December 2017 , Bitfinex launched LEO of cryptocurrency assets in 2019, etc. In the form of being involved in crypto assets.

Mr. Borzi applied for coverage with Mr. Devassini, Bitfinex, Tether, etc., but did not receive a response.

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