The four executives behind the biggest stablecoin in the world are reportedly worth over $1 billion each now that the market cap of Tether (USDT) is at an all-time high.
Despite a long bear market for digital assets, the British Virgin Islands-based company posted a profit of $1.5 billion in the first quarter of 2023 alone, with USDT accounting for over 50% of the entire crypto market’s liquidity, according to Forbes.
Tether could be sold for as much as $9 billion if the reported financials are correct, enough to make the firm’s top four executives billionaires.
Chief financial officer Giancarlo Devasini, who owns over 40% of Tether and is regarded as the mastermind of the company, is now worth at least $4 billion.
CEO Jan Ludovicus van der Velde and chief technology officer Paolo Ardoino each have company shares worth $1.8 billion. Meanwhile, Stuart Hoegner, the company’s general counsel, has a stake worth $1.2 billion.
Regulatory changes may impact Tether’s current valuatio
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