Giancarlo Devasini
Giancarlo Devasini is an Italian entrepreneur who is chairman of the stablecoin issuer TetherTether USDt (USD₮)Tether USDt (USD₮, commonly written as USDT) is a U.S. dollar-pegged stablecoin issued since 2014, formerly named Realcoin and co-founded by Brock Pierce, Reeve Collins, and Craig Sellars. The tokens are minted and redeemed by the issuing company on multiple blockchains, and the peg relies on reserves, the issuance and redemption mechanism, and market arbitrage; it is not a decentralized algorithmic stablecoin.Open the full entry and chief financial officer of the crypto exchange Bitfinex. He trained in medicine and worked as a cosmetic surgeon before going into the electronics business.
Contents8 sections
Key facts
Early Career: From Medicine to Electronics
2012Helping Found Bitfinex
In 2012 Devasini posted on a BitcoinBitcoinBitcoin (common symbol BTC) is an open peer-to-peer electronic cash protocol, network, and native digital asset. Full nodes independently verify transactions and blocks according to the consensus rules; transactions are recorded as UTXOs, and blocks are organized into a public ledger through proof of work. Bitcoin is not issued or managed by any single institution, but using, holding in custody, and trading it still involve key, privacy, market, and legal risks.Open the full entry forum offering CDs and DVDs for bitcoin. That year he took part in founding the trading platform Bitfinex and helped develop it.[2][3][1]
Paolo ArdoinoPaolo ArdoinoPaolo Ardoino is an Italian software engineer and executive who has been chief executive of Tether, the issuer of the USDT stablecoin, since December 2023, while remaining chief technology officer of the cryptocurrency exchange Bitfinex. He joined Bitfinex in 2014, became Tether’s chief technology officer in 2017 and has been chief strategy officer of the peer-to-peer app developer Holepunch since 2022.Open the full entry has recalled that he met Devasini while working on Bitfinex’s software.[2]
From 2014: Involvement in Tether
2018About 43% of Tether
In 2018 Devasini owned about 43% of Tether, while Jean-Louis van der VeldeJean-Louis van der VeldeJean-Louis van der Velde is a Dutch entrepreneur who has been chief executive officer of the crypto exchange Bitfinex since 2013 and was chief executive officer of the stablecoin issuer Tether until 2023.Open the full entry and Stuart HoegnerStuart HoegnerStuart Hoegner is a Canadian lawyer and accountant who served as general counsel of the crypto exchange Bitfinex from 2014 until January 2025, and also as general counsel of the stablecoin issuer Tether.Open the full entry each held about 15%. The ownership structure came to light through the 2021 investigations by the New York Attorney General’s office and the Commodity Futures Trading CommissionCommodity Futures Trading CommissionThe U.S. Commodity Futures Trading Commission (CFTC) is an independent federal agency created by the Commodity Futures Trading Commission Act of 1974 and operating since 1975 to regulate futures, options and swaps markets; it has treated bitcoin and other virtual currencies as commodities since 2015 and has been chaired since December 22, 2025 by Michael Selig.Open the full entry.[1][4]
2025Tether’s Stake in Juventus
In February 2025 Tether announced that it had bought a stake in the Italian football club Juventus; by November that year its holding had risen to 11.5% of the capital, and it was represented on the Juventus board.[2]
From October 2025: Chairman of Tether
As of October 2025 Devasini was chairman of Tether and held 47% of the company. As of August 2026 he remained Tether’s chairman.[3][2]
As of November 2026 he is listed in Bitfinex’s leadership as chief financial officer.[5]
Related Organizations, Websites, and Public Accounts
Bitfinex: Official website: https://www.bitfinex.com/ (opens in a new window).[5]
Sources
- The unusual crew behind Tether, crypto’s pre-eminent stablecoin (opens in a new window)
- Bitcoin corre, lui resta nell'ombra: chi è Giancarlo Devasini, il misterioso italiano più ricco d'Italia (opens in a new window)
- Der steile Aufstieg von Tether-Chairman Giancarlo Devasini (opens in a new window)
- Only 4 people controlled Tether Holdings as of 2018: Report (opens in a new window)
- Bitfinex | About Us (opens in a new window)