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Tether has appointed Simon McWilliams as its new chief financial officer, effective March 3, as part of its initiative for a comprehensive financial audit. He succeeds Giancarlo Devasini, who will transition to the role of chairman. McWilliams brings over 20 years of expertise in finance, focusing on investment management and auditing.
Giancarlo Devasini, founder of Tether, is recognized as Ticino's wealthiest individual, with assets estimated between $7 and $9.2 billion. Living incognito in Lugano, he has become a pivotal figure in the cryptocurrency market, particularly through USDT, Tether's stablecoin, which boasts a capitalization exceeding $142 billion and serves as a crucial tool for international payments. Despite his influence, Devasini remains elusive, rarely engaging with the media.
Lugano's partnership with Tether aims to enhance blockchain and cryptocurrency understanding through training and events, positioning Tether as a leader in the city's crypto initiatives. Tether, co-founded by billionaire Giancarlo Devasini, has also influenced Bitcoin's legal status in El Salvador and is exploring gold-backed tokens. The company's significant profits could potentially address Switzerland's federal budget deficit, though its transparency remains a concern.
The assets of Switzerland's wealthiest individuals have surged to a record 833.5 billion Swiss francs, marking a 4.8% increase after two years of decline. Gérard Wertheimer leads the list with an estimated fortune of 37 to 38 billion francs, despite a decrease in his wealth. Notable newcomers include crypto investors Giancarlo Devasini and Christian Angermayer, reflecting the growing influence of digital assets among the super-rich.
Giancarlo Devasini
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