As of 2018, 4 men own about 86% of Tether

As of 2018, the four owned 86% of Tether.

this document The 2021 Tether investigation from the New York Attorney General and the Commodity Futures Trading Commission has revealed a previously unknown ownership structure of the world’s largest stablecoin issuer.

Tether’s USDT stablecoin is an essential part of the infrastructure of the crypto world, simplifying the movement of funds within the industry. However, the people behind it don’t always reveal how they work.

Tether started out as an independent company led by former plastic surgeon Giancarlo Devasini and former child actor Brock Pierce. Devasini, who helped develop the Bitfinex cryptocurrency exchange and is now its chief financial officer, owned about 43 percent of Tether in 2018.

Two other executives at Bitfinex and Tether, CEO Jean-Louis van Der Velde and chief advisor Stuart Hoegner, each held about 15 percent of Tether in 2018.

As of 2018, the fourth largest owner is a businessman of British and Thai nationality known as Christopher Harborne in the UK and Chakrit Sakunkrit in Thailand. He controls about 13% of Tether.

Collectively, the four own about 86% of Tether through their own shares and another related company.

In a tweet following the report, Bitfinex and Tether CTO Paolo Aordino called the article “a farce” and emphasized that “people understand that Tether stands for freedom and tolerance.”

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As reported by Cointelegraph

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