A Financial Times (FT) article on Tether CEO Jean-Louis (JL) van der Velde has become the center of controversy. Tether, the biggest stablecoin issuer is not new to media glare owing to its run-ins with the law and continuous speculations about its reserve. The stablecoin issuer has taken a strong objection to FT’s article on Velde titled “Tether’s CEO: from IT sales to calling the shots in crypto land.”
Tether took a dig at the FT article for showing the CEO in the bad light and called it a “tabloid piece,” rather than real journalism. The controversial article begins with JL’s early life in China where his company faced several lawsuits and tax fines. The article read,
“The chief executive of Tether ran a company that faced a string of lawsuits in China over unpaid bills and fines for late tax payments before he helped launch the contentious stablecoin now at the heart of the crypto industry.”
The article then goes on to talk about his early life as an electronic
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