The world’s largest stablecoin Tether’s (USDT) top manager Paolo Ardoino shared a “Tomorrow” message by adding the Tether hashtag, pointing to an event that could be significant for the coin.
Tether picture cryptocurrency The Twitter account also responded to Ardoino’s Tweet with the “a pair of eyes” emoji used to draw attention to something.
tomorrow #Tether 👀
— Paolo Ardoino 🍐 (@paoloardoino) February 8, 2023
The Wall Street Journal Recently Released a Report About Who Controls Tether (USDT)
The Wall Street Journal had published a research report highlighting the highly polarized distribution of control of USDT by Tether founders.
The documents referenced investigations carried out about Tether in 2021 by the Federal Commodity Futures Trading Commission as well as the New York Attorney General’s Office.
According to WSJ’s documents, Tether started out as separate companies led by former child actor Brock Pierce and former plastic surgeon Giancarlo Devasini. Devasini is also the person who helped found the crypto exchange Bitfinex and is currently the company’s chief financial officer. According to the documents, Devasini alone owned 43% of Tether in 2018.
The two other directors of Bitfinex and Tether, Principal Advisor Stuart Hoegner and CEO Jean-Louis van Der Velde, each held a 15% stake in the stablecoin issuer company at the time. The fourth shareholder was a businessman known in the UK as Christopher Harborne, who controlled 13% of Tether.
The report stated that four individuals control approximately 86% of Tether through their own holdings and another related company.
*Not investment advice.
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