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Jean-Louis van der Velde
Jean-Louis van der Velde, also known as JL van der Velde, is a Dutch technologist and entrepreneur who co-founded and serves as Chief Executive Officer of cryptocurrency exchange Bitfinex. He formerly served as Chief Executive Officer of Tether and became an adviser to the company in December 2023.[1][2][3][4] Forbes identified van der Velde as the wealthiest billionaire from the Netherlands on its 2026 country-by-country ranking.[12]
Early Life & Education
Van der Velde left the Netherlands in 1985 to study in Taiwan and has lived in Asia since then. According to Bitfinex's executive profile, he attended National Taiwan Normal University from 1985 to 1988.[1]
Van der Velde speaks five languages and has more than three decades of experience spanning the technology, finance, and fintech sectors. Before becoming involved in cryptocurrency, he co-founded several information-technology companies in Asia, with work covering areas including hardware design, software development, embedded systems, video streaming, IPTV, digital television, web applications, and digital marketing.[1][5]
Career
Before joining Bitfinex, van der Velde held management roles in technology, distribution, and manufacturing companies. Bitfinex's profile states that he also served as an executive director of a Chinese automotive group and a Hong Kong-based venture-capital firm. During the dot-com era, he participated in technology conferences as a speaker on open-source technologies.
Van der Velde has also been involved in academia. Bitfinex has described him as a lecturer at the National Taiwan University of Science and Technology and a guest lecturer at National Taiwan University, where he taught subjects related to blockchain and regulation.[1]
Bitfinex
Van der Velde joined Bitfinex in early 2013 as CEO and co-founder. Bitfinex's executive profile states that he was involved in structuring the company's holding organization and in developing its approach to areas including fintech, data technologies, anti-money laundering and know-your-customer procedures, banking relationships, and regulatory engagement.[1]
As of 2026, van der Velde remains Chief Executive Officer of Bitfinex, according to both Bitfinex's current leadership page and Bloomberg's executive profile.[2][3]
During van der Velde's tenure as CEO, Bitfinex experienced a major security breach in August 2016 in which 119,754 bitcoin were stolen from the exchange. U.S. authorities later identified Ilya Lichtenstein as the hacker. Lichtenstein pleaded guilty to money-laundering conspiracy charges in 2023 and was sentenced to five years in prison in November 2024.[10]
Tether
Van der Velde served as Chief Executive Officer of Tether, the company behind the USDT stablecoin, during much of the company's expansion into one of the largest businesses in the digital-asset industry.[4][5]
In October 2023, Tether announced that Paolo Ardoino would succeed van der Velde as CEO beginning in December 2023. Van der Velde transitioned to an advisory role at Tether while retaining his position as CEO of Bitfinex. Tether said that he would continue contributing to the company, particularly through his experience managing relationships with regulators.[4]
Van der Velde remained involved with Tether after the transition. In 2024, Forbes reported that Tether's ownership structure had not changed following Ardoino's appointment and that van der Velde continued to serve as an adviser.[7]
Tether and Bitfinex are closely affiliated companies with overlapping ownership and, historically, overlapping management. U.S. Commodity Futures Trading Commission documents concerning the companies have described them as sharing common ownership, leadership, employees, and operational resources.[8]
Regulatory Matters Involving Tether and Bitfinex
Van der Velde led Tether and Bitfinex during periods in which both companies faced regulatory investigations and enforcement proceedings in the United States.
In February 2021, the Office of the New York Attorney General reached an agreement with iFinex, Tether, and related entities following an investigation into the companies' reserve representations, movement of funds between Tether and Bitfinex, and their activities in New York. The agreement required the companies to discontinue trading activity with New Yorkers, undertake additional reporting and transparency measures, and pay $18.5 million in penalties.[9]
In October 2021, the U.S. Commodity Futures Trading Commission ordered Tether entities to pay a $41 million civil monetary penalty. In a separate order, it required Bitfinex entities to pay a $1.5 million civil monetary penalty for illegal off-exchange retail commodity transactions with U.S. persons and related violations.[8]
The New York and CFTC proceedings cited above were enforcement actions against the relevant corporate entities. The cited settlements did not impose a personal civil penalty on van der Velde.[8][9]
Tether Ownership & Wealth
Van der Velde's wealth is closely associated with his ownership interest in Tether. Forbes estimated in 2024 that he owned approximately 20% of the company. More recent Forbes reporting has estimated his stake at approximately 19%, placing his ownership at roughly one-fifth of Tether.[5][7]
Van der Velde first appeared on Forbes' annual World's Billionaires ranking in 2024, when the publication estimated his net worth at $3.9 billion.[11]
On Forbes' 2026 World's Billionaires list, published in March 2026, van der Velde was ranked No. 53 globally, with an estimated net worth of $38 billion. Forbes attributed his wealth primarily to his interest in Tether.[5][6]
Forbes also identified van der Velde as the wealthiest billionaire from the Netherlands on its 2026 country-by-country ranking.[12]
In its 2026 Quote 500, Quote ranked van der Velde No. 1 for the first time, displacing Heineken heiress Charlene de Carvalho-Heineken. The annual ranking estimated his wealth at €26 billion (about US$29.1 billion), based its calculation on a 15% Tether stake, and described the estimate as conservative. Quote limits the ranking to Dutch nationals and confirmed van der Velde’s Dutch citizenship in summer 2026.[15][16][17] Quote’s figure is a publication-specific estimate, distinct from the Forbes and Bloomberg estimates above.
Ownership Records
An August 7, 2026 investigation by the International Consortium of Investigative Journalists (ICIJ) reported that records it reviewed indicated Giancarlo Devasini arranged to transfer at least 55% of his Tether Holdings shares to van der Velde in early 2016. Ownership records from around 2018 showed van der Velde with about 15% and Devasini with roughly 43%. ICIJ reported that filings it reviewed showed both men appearing together in mid-2024; van der Velde was absent from filings beginning in early 2025, while Devasini was described in those filings as having more than 50% voting interest.[14]
Forbes' estimate of his stake is approximately 20%. Bloomberg's Billionaires Index estimated his net worth at $16.1 billion on October 23, 2026, while Forbes' live profile showed $38 billion as of October 28, 2026. Forbes' $38 billion estimate for its 2026 annual list was published in March 2026.[5][13][6]
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