{"id":547060,"date":"2023-02-03T01:03:55","date_gmt":"2023-02-02T22:03:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/only-4-people-controlled-tether-holdings-as-of-2018-report\/"},"modified":"2023-02-03T01:03:55","modified_gmt":"2023-02-02T22:03:55","slug":"only-4-people-controlled-tether-holdings-as-of-2018-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/only-4-people-controlled-tether-holdings-as-of-2018-report\/","title":{"rendered":"# Only 4 people controlled Tether Holdings as of 2018: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e21c7721fe\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e21c7721fe\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/only-4-people-controlled-tether-holdings-as-of-2018-report\/#%E2%80%9D_Only_4_people_controlled_Tether_Holdings_as_of_2018_Report_%E2%80%9C\" >&#8221; Only 4 people controlled Tether Holdings as of 2018: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Only_4_people_controlled_Tether_Holdings_as_of_2018_Report_%E2%80%9C\"><\/span>&#8221; Only 4 people controlled Tether Holdings as of 2018: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvMjMzNjkwZjEtMjc1ZS00ZmFkLTkxMGUtMGE4YzYwMTExZDRjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>A group of four men controlled 86% of stablecoin issuer Tether Holdings Limited as of 2018, according to documents obtained by The Wall Street Journal in connection with United States authorities investigations.<\/p>\n<p>New York Attorney <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> and Commodity Futures Trading Commission probes into Tether in 2021 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/tether-ownership-and-company-weaknesses-revealed-in-documents-11675363340\">exposed<\/a> its previously unknown ownership structure. The company is the issuer of Tether (USDT), the world&#8217;s largest stablecoin with $68 billion in circulation, according to CoinMarketCap.<\/p>\n<p>According to the documents, Tether was built by the joint efforts of ex-plastic surgeon Giancarlo Devasini and former child actor and crypto entrepreneur Brock Pierce. In September 2014, Tether Holdings was incorporated in the British Virgin Islands.<\/p>\n<p>Four years later, Pierce had already left the company and Devasini owned about 43% of Tether. Devasini also helped to build crypto exchange Bitfinex, where he is currently chief financial officer. Bitfinex&#8217;s CEO Jean-Louis van Der Velde and chief counsel Stuart Hoegner each owned roughly 15% of Tether in 2018, according to documents.<\/p>\n<p>The fourth-largest shareholder in Tether as of 2018 was a man with dual citizenship, known as Christopher Harborne in the United Kingdom and Chakrit Sakunkrit in Thailand, who owned 13%.\u00a0<\/p>\n<p>Through their own holdings and another related company, the four men controlled <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 86% of Tether, the report said.<\/p>\n<p>Tether&#8217;s chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer Paolo Ardoino tweeted that the Journal&#8217;s piece was a &#8220;clown article&#8221; that would boost the company&#8217;s growth:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The more clown articles the more tether grows. People understand that Tether is standing for freedom and inclusion. This is upsetting MSM.<br \/>Eventually holepunch will break <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> as well. <\/p>\n<p>\u2014 Paolo Ardoino  (@paoloardoino) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1621230891249942528?ref_src=twsrc%5Etfw\">February 2, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to a spokesperson for Tether, Ardoino&#8217;s posts were the company&#8217;s official response to the article. In November 2022, another article claimed that\u00a0Tether could be deemed \u201ctechnically insolvent\u201d if its assets fell 0.3%. The company labeled the article as &#8220;false information.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"es\" dir=\"ltr\">Tether to WSJ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ESGblkrO7b\">pic.twitter.com\/ESGblkrO7b<\/a><\/p>\n<p>\u2014 Paolo Ardoino  (@paoloardoino) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1621229425013526533?ref_src=twsrc%5Etfw\">February 2, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A settlement between Tether and the New York Attorney General&#8217;s office was reached in 2021 after the company allegedly misrepresented the amount of fiat collateral backing its stablecoin. In addition to\u00a0paying $18.5 million in damages to the state of New York, the company was required to submit periodic disclosures of its reserves, Cointelegraph reported.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/only-4-people-controlled-tether-holdings-as-of-2018-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Only 4 people controlled Tether Holdings as of 2018: Report &#8220; A group of four men controlled 86% of stablecoin issuer Tether Holdings Limited as of 2018, according to documents obtained by The Wall Street Journal in connection with United States authorities investigations. New York Attorney General and Commodity Futures Trading Commission probes into&#8230;<\/p>\n","protected":false},"author":1,"featured_media":547061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/233690f1-275e-4fad-910e-0a8c60111d4c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74881,117,36041],"class_list":["post-547060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitfinex","tag-business","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/547060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=547060"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/547060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/547061"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=547060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=547060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=547060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}