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Who is Giancarlo Devasini, Italy's richest man?

EuroNews · 🇫🇷 public France · · 956 words · By Stefania De Michele
Wealth Accumulation Cryptocurrency Infrastructure Italian Business and Sports
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What to know about Wealth Accumulation

Bitcoin is nearing $80,000 again, putting the crypto economy and Giancarlo Devasini in the spotlight.

Claims checked 15
Techniques found 1
Topics 3

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center80%
Right20%

5 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Bitcoin is nearing $80,000 again, putting the crypto economy and Giancarlo Devasini in the spotlight.

Why it matters

Bitcoin is back in the spotlight after a week-long rally pushed the cryptocurrency above $79,000, with gains of more than 20% in just a few days.

Common ground

The rally has been driven by fresh flows into spot Bitcoin ETFs, expectations of greater liquidity in the United States, a more favourable climate for cryptocurrencies in Washington and a squeeze on traders betting against Bitcoin.

Perspective signals

The tension in the story is sharpened by Loaded Language: language that can make the dispute feel more urgent, personal, or adversarial than the underlying facts alone.

open_in_new Read the original article: https://www.euronews.com/2026/08/24/as-bitcoin-soars-people-ask-who-is-giancarlo…

psychologyPropaganda Techniques Detected

eFinder identified 1 propaganda technique in this article. These signals explain how wording, emphasis, or missing context can shape a reader's interpretation.

warning
Loaded Language 70% confidence
Using words with strong emotional connotations to influence an audience.
Found in this article: eFinder flagged this technique because the story's framing or source language may guide readers toward a particular interpretation. Review the claim checks and evidence below to separate what is directly supported from what is implied by wording or emphasis.
Why it matters: Recognizing loaded language helps readers compare the article's framing with the underlying facts and with coverage from other sources.

fact_checkClaims Checked

eFinder analyzed this article and checked 15 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

check_circle Corroborated 6
schedule Pending 5
help Insufficient Evidence 2
verified Verified By Reference 1
cancel Disputed 1
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Claim 1: “Forbes estimates that Devasini owns around 45% of Tether.”
CORROBORATED
Multiple independent sources, citing Forbes, confirm that Devasini owns approximately 45% of Tether.
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web search NEUTRAL — According to Forbes, he is the richest person in Italy and was ranked the 24rd-richest person in the world, with an estimated net worth of $89.3 billion as of July 2026.[1] He has been reported to hol…
https://en.wikipedia.org/wiki/Giancarlo_Devasini
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web search NEUTRAL — Devasini owns an estimated 45% stake in Tether, which Forbes values by applying the average price-to-earnings multiples of a group of publicly traded mid-tier banks and asset managers.
https://www.forbes.com/profile/giancarlo-devasini/
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web search NEUTRAL — Forbes estimates that Devasini owns around 45% of Tether. It is this stake, valued according to the company's size and profitability, that has propelled his estimated wealth to such heights. From medi…
https://www.euronews.com/my-europe/2026/08/24/as-bitcoin-soa…
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Claim 2: “At the end of 2025, there were more than 186 billion USDT in circulation, while Tether reported more than $10 billion in profits for the year.”
CORROBORATED
Multiple sources confirm that by the end of 2025, USDT circulation hit over $186 billion and Tether reported profits of over $10 billion for the year.
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web search NEUTRAL — For comparison, Tether reported profits of more than $13 billion in 2024. There is now an all-time high of over $186 billion USDT in circulation, backed by $193 billion in assets, reflecting Tether’s …
https://www.theblock.co/post/387908/tether-rakes-10-billion-…
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web search NEUTRAL — Tether made $10B in 2025 as USDT circulation hit $186B, showing strong growth despite a 23% profit drop from last year. Tether now holds $141B in U.S. Treasuries and $24B in gold, highlighting a focus…
https://www.cryptotimes.io/2026/01/31/tether-posts-10b-profi…
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web search NEUTRAL — Tether reported over $13 billion in profit in 2024 and over $10 billion in 2025. Approximately 300 employees, no external investors, no fees for secondary market USDT transfers (more on that later). F…
https://www.odaily.news/en/post/5209916
verified
Claim 3: “His fortune is almost twice the $48.8 billion attributed to Italian businessman Giovanni Ferrero and also well ahead of Andrea Pignataro, whose wealth is estimated at $42.6 billion.”
VERIFIED BY REFERENCE
While the evidence confirms the existence of Giovanni Ferrero and Andrea Pignataro, the specific wealth figures ($48.8 billion and $42.6 billion) are not present in the provided evidence snippets.
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wikipedia NEUTRAL — This is a list of Italian billionaires based on an annual assessment of wealth and assets compiled and published by Forbes magazine in 2026.
https://en.wikipedia.org/wiki/List_of_Italians_by_net_worth
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web search NEUTRAL — 1:48:50. Neil deGrasse Tyson: The Whistleblowers Were Right About AliensThe Diary Of A CEO and StarTalk6.3M • 2mo agoLivePlaylist ()Mix (50+). 1:42:29.00:00 Universe in 6 Days or 13.8 Billion Years?
https://www.youtube.com/watch?v=E4G4J3LizNU
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web search NEUTRAL — About Andrea Pignataro. Andrea Pignataro is the founder and CEO of ION Group, a London-based financial data and technology firm. Born in Italy, he founded the firm in 1998 while working as a bond trad…
https://realtimebillionaires.de/profile/andrea-pignataro
+ 1 more evidence source
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Claim 4: “Tether issues USDT, a stablecoin designed to maintain a value close to one US dollar.”
CORROBORATED
Multiple independent sources (The Block, Phemex Academy, and other web results) confirm that Tether issues USDT, which is a stablecoin pegged to the US dollar.
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web search NEUTRAL — Tether is the company that issues USDT, a stablecoin pegged to the U.S. dollar. USDT is the largest stablecoin by circulating supply and issued across multiple blockchains, with the same dollar peg on…
https://www.theblock.co/learn/405498/how-does-tether-make-mo…
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web search NEUTRAL — USDT (United States Dollar Tether) is a cryptocurrency token issued on multiple blockchain protocols.USDC or USD Coin is another US dollar-pegged type of stablecoin similar to USDT. It has the same ch…
https://phemex.com/academy/what-is-tether-usdt
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web search NEUTRAL — Tether issues USDT, a stablecoin pegged to the US dollar, with a total issuance of $159 billion.Current and proposed regulations in the EU and the US allow stablecoin reserves only in the form of cash…
https://mezha.ua/en/news/tether-zberigaye-8-mlrd-zolota-u-ta…
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Claim 5: “Paolo Ardoino, a computer scientist from the Italian region of Liguria, joined Bitfinex. He is now Tether's chief executive”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
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Claim 6: “In February 2025, the company announced the purchase of a stake in Juventus, initially equivalent to more than 5% of voting rights.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
cancel
Claim 7: “Bitcoin is back in the spotlight after a week-long rally pushed the cryptocurrency above $79,000, with gains of more than 20% in just a few days.”
DISPUTED
Evidence is contradictory. One source mentions Bitcoin testing $79,000 resistance on May 1, while another more recent source states the price stabilized above $86,000. There is no consistent evidence of a 'week-long rally' resulting in exactly 20% gains in 'a few days' across the provided sources.
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wikipedia NEUTRAL — Bitcoin is a cryptocurrency, a digital asset that uses cryptography to control its creation and management rather than relying on central authorities. Originally designed as a medium of exchange, Bitc…
https://en.wikipedia.org/wiki/History_of_bitcoin
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wikipedia NEUTRAL — Satoshi Nakamoto (fl. 31 October 2008 – 26 April 2011) is the name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deploye…
https://en.wikipedia.org/wiki/Satoshi_Nakamoto
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wikipedia NEUTRAL — Bitcoin (abbreviation: BTC; sign: ₿) is the first decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown person published a white paper under the p…
https://en.wikipedia.org/wiki/Bitcoin
+ 3 more evidence sources
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Claim 8: “It is the first time since 2007 that an Italian other than a member of the Ferrero family has occupied the top spot.”
CORROBORATED
The claim that this is the first time since 2007 an Italian other than a Ferrero family member has held the top spot is explicitly stated in the provided web search results.
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wikipedia NEUTRAL — Ferrero SpA ( fə-RAIR-oh, Italian: [ferˈrɛːro]), more commonly known as Ferrero Group or simply Ferrero, is an Italian multinational company with headquarters in Alba, Piedmont. Ferrero is a manufactu…
https://en.wikipedia.org/wiki/Ferrero_SpA
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wikipedia NEUTRAL — The Italian diaspora (Italian: emigrazione italiana, pronounced [emiɡratˈtsjoːne itaˈljaːna], lit. 'Italian emigration') is the large-scale emigration of Italians from Italy. There were two major Ital…
https://en.wikipedia.org/wiki/Italian_diaspora
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wikipedia NEUTRAL — A name in the Italian language consists of a given name (Italian: nome) and a surname (cognome); in most contexts, the given name is written before the surname, although in official documents, the sur…
https://en.wikipedia.org/wiki/Italian_name
+ 3 more evidence sources
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Claim 9: “By later that year, Tether's stake had risen to around 11.5% of the club's share capital, with the company also gaining representation on Juventus' board of directors.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
schedule
Claim 10: “Tether began life as Realcoin in 2014 before being renamed later that year.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
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Claim 11: “By the end of 2025, Tether's direct holdings of US Treasuries exceeded $122 billion, while its total exposure, including indirect holdings, was above $141 billion.”
CORROBORATED
Multiple sources confirm that Tether's direct US Treasury holdings exceeded $122 billion and total exposure was above $141 billion.
travel_explore
web search NEUTRAL — Tether reported over $13 billion in profit in 2024 and over $10 billion in 2025. Approximately 300 employees, no external investors, no fees for secondary market USDT transfers (more on that later). F…
https://www.bee.com/68158.html
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web search NEUTRAL — Tether also holds $122 billion in direct U.S. Treasuries and over $141 billion in total Treasury exposure, per its latest BDO attestation dated Jan.
https://www.thestreet.com/crypto/markets/major-gold-buyer-in…
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web search NEUTRAL — U.S. Treasury holdings are over $122 billion. When including the short-term lending agreements, the total Treasury exposure is over $141 billion. This is the backing for the stablecoin liabilities.
https://www.tronweekly.com/tether-reduces-20b-fundraising-ta…
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Claim 12: “By April, Tether had increased its stake to more than 10% of the club's share capital, making it the club's second-largest shareholder after Exor.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
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Claim 13: “At 62, Giancarlo Devasini, chairman of Tether — the company behind USDT, the world's largest stablecoin — has amassed a fortune estimated by Forbes at $89.3 billion, making him the world's 23rd-richest person.”
CORROBORATED
Multiple independent sources (Wikipedia, Forbes-based reports) confirm Devasini is 62, the chairman/co-owner of Tether, and has an estimated net worth of $89.3 billion. Note: One source says 24th richest, claim says 23rd, but the wealth figure is identical across sources.
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wikipedia NEUTRAL — Giancarlo Devasini (born 1964) is an Italian businessman and former physician. He is the chief financial officer of Bitfinex and co-owner of Tether. According to Forbes, he is the richest person in It…
https://en.wikipedia.org/wiki/Giancarlo_Devasini
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web search NEUTRAL — Forbes estimates that Devasini owns around 45% of Tether. It is this stake, valued according to the company's size and profitability, that has propelled his estimated wealth to such heights. From medi…
https://www.aol.co.uk/articles/bitcoin-soars-people-ask-gian…
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web search NEUTRAL — Giancarlo Devasini. $89.3B. Real Time Net Worth.Personal Stats. Age. 62. Source of Wealth. Cryptocurrency, Self Made.
https://www.forbes.com/profile/giancarlo-devasini/
+ 1 more evidence source
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Claim 14: “Born and raised in the Casale Monferrato area of northern Italy, Devasini studied medicine and specialised in plastic surgery.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results regarding Devasini's birthplace or his medical specialization in plastic surgery.
help
Claim 15: “One of the earliest traces of Devasini's entry into the Bitcoin world dates back to 2012, when, according to a Financial Times investigation, he appeared on a Bitcoin forum offering to sell CDs and DVDs for bitcoin.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results regarding a Financial Times investigation or Devasini selling CDs/DVDs for Bitcoin in 2012.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.