The Dutchman behind Tether

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The Dutchman behind Tether

What many people will not know is that the man behind Tether is Dutch. We are in fact talking about Jan Ludovicus van der Velde, from Arnhem. He leads the stablecoin that is used by many people on a daily basis, but is also regularly under fire. The Dutch Financial Times went looking for him. Let’s go and see where that led.

Jan Ludovicus van der Velde, Tether's leader​

The adventure began when the people from the Financieel Dagblad called all the Van der Velde’s in Arnhem. This led to nothing. The leader of Tether, in fact, works from the shadows. Not incomprehensibly, because the crypto currency is now worth almost $78 billion, and of course there is a lot involved.

One of the characteristics of a stablecoin is that it is always equal to a dollar. For this reason, Tether indicates that each USDT is backed by a dollar. You could see Tether as a central bank within the world of crypto.

Because of this, there are people who fear that Tether will become the Lehman Brothers of the crypto world. At the moment, a large part of the crypto market is dependent on the currency. Tether cannot, or will not, provide proof of where the collateral is at the moment and because of this, people are speculating that it is not at all the case that every USDT is backed by a dollar.

That is why the Financieel Dagblad went looking for this man, they wanted to know more about him. He is CEO, but also major shareholder, in the crypto company Tether.

Van der Velde is difficult to find, however. He likes to operate in the background and is, for example, not present at the trials in which his company is involved. He sends a group of representatives to these cases.

Van der Velde has lived in Hong Kong since the 1980s. The Financieel Dagblad, however, managed to find out his address and rang his doorbell. However, they could not find him, as his address was also apparently difficult to find.

So this attempt to find out more about Jan Ludovicus van der Velde failed, but there will probably be many more attempts, because his company Tether is in the spotlight. We are following the developments around Tether closely, and will certainly keep you informed about them.

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