Tether's Giancarlo Devasini becomes Italy's richest person with $89.3B fortune
- —Devasini's $89.3B fortune is nearly double that of Italy's second-richest person, Giovanni Ferrero, at $48.8B
- —He ranks 22nd on Forbes' global list and second among crypto billionaires after CZ
- —His wealth stems mainly from a 45–47% stake in Tether, excluding annual dividends
- —A former plastic surgeon, he first invested in Bitfinex in 2012 before taking over Tether
Why it matters: The milestone underscores how Tether, the issuer of the dominant USDT stablecoin, has become one of the most profitable businesses in crypto.
Source: Siam Blockchain