Tether was founded in 2014 by Reeve Collins, Craig Sellars, and Brock Pierce. All three of the co-founders have since moved on to other projects. Currently, the Tether Group is ultimately owned by DigFinex, which also owns Bitfinex. Besides common ownership, the two companies also share management executives.
Giancarlo Devasini is the controlling shareholder with an estimated 40% stake in DigFinex. He is the CFO of Tether and Bitfinex. Devasini studied to become a physician from the University of Milan. Previously, he was the founder of Point-G Srl (computer hardware distributor) and Solo SpA (semiconductor reseller).
Jean-Louis van der Velde owns an estimated 20% stake in DigFinex. He is the CEO of Bitfinex. He was also the CEO of Tether, until that position was taken over by Paolo Ardoino in Oct 2023. Van der Velde attended the National Taiwan Normal University in Taiwan. Previously, he was the managing director of Amos (consumer electronics distributor), founder of Tuxia (linux development), and CEO of PAG Asia (consumer electronics distributor).
Paolo Ardoino is the CEO of Tether and CTO of Bitfinex. He graduated in computer science from the University of Genoa. Previously, Paolo was the founder of Fincluster (financial services app).
Other known investors in Tether include Cantor Fitzgerald with a 5% stake. The firm’s CEO Howard Lutnick has stated they own a convertible bond issued by Tether.
Prior to Tether’s relocation to El Salvador, USDT was issued by Tether International Limited and Tether Limited, registered in the British Virgin Islands (BVI) and Hong Kong respectively. As entities within Tether relocated to El Salvador in Jan 2025, Tether International SA de CV became the sole issuer of USDT.
Tether Limited is registered with the Financial Crimes Enforcement Network (FinCen) as a money services business. Last renewed in 2022, this registration lists the company’s address in New Taipei City, Taiwan.
The World Justice Project’s Rule of Law Index ranks China 69th in regulatory enforcement and 70th in civil justice globally. These indicators rate the effective implementation of laws and the ability of citizens to seek legal recourse through the justice system.