86% of stablecoin issuer Tether was controlled by four people
It turns out that 86% of Tether, the company that issued the dollar-pegged stablecoin Tether, was owned by just four people. This suggests that Tether, the world's largest stablecoin and the foundation of cryptocurrency trading, is run by a small number of people.
The Unusual Crew Behind Tether, Crypto's Pre-Eminent Stablecoin - WSJ
86% of Stablecoin Issuer Tether Was Controlled by 4 People as of 2018: WSJ
https://www.coindesk.com/business/2023/02/02/86-of-tether-was-controlled-by-4-people-wsj/
According to the overseas media The Wall Street Journal, Tether is a predecessor company called Tether Holdings Limited led by Mr. Giancarlo Debasini, a former plastic surgeon, and Mr. Brock Pierce, a former child actor and chairman of the Bitcoin Foundation. . The two formed Tether Holdings Limited as a British Virgin Islands corporation in September 2014, but Block left the company soon after.
A research document on Tether obtained by The Wall Street Journal stated that Mr. Debasini owned 43% of Tether's shares as of 2018. Additionally, Tether CEO Jean-Louis van der Verde and Chief Advisor Stuart Hegner each owned 15% of Tether in 2018.
Mr. Van der Velde is a Dutchman who is also known as Mr. Jean Ruedweikas van der Velde, but he said he spent most of his life in Asia. In addition, Mr. Hegner is Canadian and has served as deputy advisor and compliance director at a poker software company called Excapsa Software, but he paid $ 15 million (1.928 billion yen) and incurred during his tenure. Exempted from liability for software fraud. Mr. Van der Verde and Mr. Hegner also serve as CEO and Chief Advisor at Bitfinex, a virtual currency exchange where Mr. Debasini serves as Chief Financial Officer.
The remaining one of Tether's four helmsmen is a businessman of British and Thai nationality, who goes by the name Christopher Halborn in England and Chakrit Sakkrit in Thailand. As of 2018, he owned 13% of Tether.
Debasini's 43%, Van der Verde's 15%, Hegner's 15%, and Hegner's 13% add up to 86%. In other words, at least as of 2018, just under 90% of Tether was controlled by four people through holdings and affiliates.
Paolo Ardoino, chief technology officer of Tether and Bitfinex , posted a GIF animation on Twitter provoking 'From Tether to The Wall Street Journal' after the publication of The Wall Street Journal's article. , ``The more articles about clowns, the more Tether grows. People are well aware that Tether is a vision of freedom and oneness.''
Tether to WSJ pic.twitter.com/ESGblkrO7b
— Paolo Ardoino ???? (@paoloardoino) February 2, 2023
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