2023-02-06
In 2023, Tether is world’s largest stablecoin
with $68 billion market cap. In 2021, New York Attorney General and Commodity
Futures Trading Commission investigated Tether’s assets that use for
collaterals of the stablecoin and also investigate unknown ownership structure.
After the investigation, it was revealed that only 4 people control Tether
Holdings Limited.
43% owns by Giancalo Devasini, he is an Italian and
the CFO of Bitfinex.
15% owns by Jean-Louise Van Der Veld, he is the
CEO of Bitfinex and Tether.
15% owns by Stuart Hoegner, Chief Counsel.
12% owns by Chrtistopher Harborne, he is a
British businessman with British and Thai citizenship. His Thai name is Chakrit Sakunkrit.
In conclusion, 86% of Tether own by these 4 people.
About Tether
Tether is a centrally controlled stablecoin. The stablecoin is backed by collaterals with maintaining 1:1 ratio between Tether and collaterals. Tether was founded in 2014 by Giancarlo Devasini, an ex-plastic surgeon and Brock Pierce, a child actor and a crypto enthusiast. In 2018, Pierce left the company, making Devasini holds 43% ownership in Tether.
