Jean-Louis van der Velde
Dutch technology entrepreneur; chief executive of the cryptocurrency exchange Bitfinex and former chief executive of the stablecoin issuer Tether
| Jean-Louis van der Velde
| |
|---|---|
| Born | 21 11 1963 (age 63 years old (as of 2026)
) (Forbes) |
| Occupation | Technology executive |
| Known for | CEO of Bitfinex; CEO of Tether until 2023 |
| Education | National Taiwan Normal University (1985–1988) |
Jean-Louis van der Velde (born 1963), often known as JL, is a Dutch technology entrepreneur who has lived in Asia since 1985. He co-founded the cryptocurrency exchange Bitfinex and remains its chief executive. He was also chief executive of Tether, the largest stablecoin issuer, until Paolo Ardoino succeeded him in December 2023, when he became an adviser to the company.[1][2] Forbes estimates that he owns about 19% of Tether.[3] On 20 October 2026 the Forbes Real-Time Billionaires list ranked Jean-Louis van der Velde 57th in the world (tied with Paolo Ardoino), with an estimated net worth of US$38 billion; Forbes lists the source of wealth as Cryptocurrency.[3][4] In the annual World's Billionaires list published in 2026, Forbes had ranked Jean-Louis van der Velde 53rd, at US$38 billion.[5]
Early life and education
According to the Dutch business magazine Quote, van der Velde was born in Arnhem.[6] His 2018 Bitfinex biography says he left the Netherlands in 1985 to study in Taiwan and has lived in Asia ever since. It says he attended National Taiwan Normal University from 1985 to 1988 and speaks five languages.[1] Forbes records his date of birth as 21 November 1963 and his citizenship as Dutch.[3] Quote said in 2026 that it was not even known whether he still held a Dutch passport.[6]
Technology career
The Bitfinex biography credits him with about 30 years in the international high-tech industry before he moved gradually into finance and fintech. It says he co-founded IT companies in Asia working on hardware and software, including embedded systems, video streaming, IPTV, digital television, web applications and digital marketing. During the dot-com period he spoke at conferences on open-source technology as co-founder of an embedded Linux company. It says he had held senior posts in IT, distribution and manufacturing firms, and was still an executive director of a Chinese automotive group and of a Hong Kong venture capital firm. Neither firm is named. The biography also describes him as a lecturer at the National Taiwan University of Science and Technology.[1]
Bitfinex and Tether
According to Bitfinex, he joined in early 2013 as chief executive and co-founder. He set up the holding company DigFinEx and introduced its anti-money-laundering and know-your-customer systems. In 2018 Bitfinex also described him as chief executive of Tether.[1] CNBC called him "a secretive crypto executive and entrepreneur" who had led Tether for years. It reported that Bitfinex and Tether were run by the same Hong Kong-based parent company, iFinex.[7] On 13 October 2023 Tether announced that its chief technology officer, Paolo Ardoino, would succeed van der Velde as chief executive from December 2023. Van der Velde would become an adviser to Tether and remain chief executive of Bitfinex.[2]
Tether says it issued nearly US$50 billion of new USDT in 2025 and made net profits of more than US$10 billion. Its year-end attestation was prepared by the accounting firm BDO for Tether International, S.A. de C.V.[8] In January 2025 Tether said it was completing its move to El Salvador after obtaining a digital-asset service provider licence there.[9] Forbes says he co-founded several IT and technology start-ups in Asia before joining Tether. It describes Tether as the largest stablecoin issuer, earning mainly from interest on the reserves backing USDT.[3]
Regulatory actions against Tether and Bitfinex
In February 2021 the New York Attorney General announced an agreement with iFinex, Tether and related companies. The Attorney General said Bitfinex and Tether had misled clients and the market by overstating reserves and hiding about US$850 million of losses. The companies were barred from trading with New Yorkers, required to make quarterly reports on matters including the segregation of corporate and client accounts, and ordered to pay US$18.5 million in penalties.[10] In October 2021 the US Commodity Futures Trading Commission (CFTC) ordered Tether to pay a US$41 million civil penalty over untrue or misleading statements that its USDT stablecoin was fully backed by US dollars. It also ordered Bitfinex to pay US$1.5 million for illegal off-exchange transactions and for operating as an unregistered futures commission merchant.[11] These actions were against the companies, not against individual executives.[10][11]
Wealth
Forbes gives cryptocurrency as the source of his wealth. It estimates his stake in Tether at about 19% (20% in its 2026 list profile) and lists him as living in Hong Kong.[3] When Forbes valued him at US$38 billion in March 2026, Quote reported that it made him the richest Dutch person, ahead of Charlène de Carvalho-Heineken. Quote cautioned that his exact wealth was hard to establish because Tether's valuation is volatile and van der Velde himself cannot be reached.[6] In 2024 Quote noted that he gives no interviews, and that Tether's reports had been criticised for apparently not meeting international accounting standards.[12]
Wealth history
Forbes has included this entry in its annual World's Billionaires list in 3 of the editions from 2001 to 2026 checked for this profile, starting with 2024. The table gives the rank and estimated net worth in each annual list.[5][3]
| Year | World's Billionaires rank | Net worth (US$ bn) |
|---|---|---|
| 2024 | 809 | 3.9 |
| 2025 | 293 | 9.5 |
| 2026 | 53 | 38.0 |
Philanthropy
No documented philanthropy by van der Velde was found in the sources checked.
Political activity
No political donations, offices or lobbying registrations were found for van der Velde in the sources checked.
International and political links
This section uses the same ten headings for every profile in this series. Only specific, sourced actions are included; company-level and foundation-level actions are labelled as such. Where nothing was found, the entry reads "No documented involvement found in sources checked."
Israel (investments, operations, donations, contracts, statements)
Company level: in October 2023 Tether said it had frozen 32 addresses linked to terrorism and warfare in Israel and Ukraine. CNBC reported that this was done in cooperation with Israel's National Bureau for Counter Terror Financing.[13][14]
Zionist or pro-Israel organisations and lobbying groups
No documented involvement found in sources checked.
Jewish communal charities
No documented involvement found in sources checked.
Gulf states
No documented involvement found in sources checked.
China
His 2018 Bitfinex biography says he was an executive director of an unnamed Chinese automotive group and of a Hong Kong venture capital firm.[1] Forbes lists him as living in Hong Kong.[3]
Russia
No documented involvement found in sources checked.
India
No documented involvement found in sources checked.
Palestinian or Arab causes
No documented involvement found in sources checked.
Home government
Company level: Tether and Bitfinex settled with the New York Attorney General in 2021 and with the US CFTC in 2021 (see Regulatory actions).[10][11]
Other international links
He has lived in Taiwan and elsewhere in Asia since 1985.[1] Tether moved its base to El Salvador in 2025.[9]
See also
External links
Notes
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 Bitfinex, Bitfinex Leadership: Jean-Louis van der Velde, Chief Executive Officer Bitfinex blog, 12 March 2018, accessed 20 October 2026.
- ↑ 2.0 2.1 Tether, Tether Appoints Paolo Ardoino as CEO Tether, 13 October 2023, accessed 20 October 2026.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 Forbes, Forbes profile record for Jean-Louis van der Velde (Forbes data feed behind forbes.com/profile/jean-louis-van-der-velde/) Forbes, live record, read 20 October 2026, accessed 20 October 2026.
- ↑ Forbes, Forbes Real-Time Billionaires data feed Forbes, live; downloaded 20 October 2026 11:51 UTC, accessed 20 October 2026.
- ↑ 5.0 5.1 Forbes, Forbes World's Billionaires list data feed, annual editions 2001–2026 (one file per year at this path with the year substituted; all 26 files downloaded and read) Forbes, annual lists; downloaded 20 October 2026, accessed 20 October 2026.
- ↑ 6.0 6.1 6.2 Bram Zeelte, Is Jean-Louis van der Velde de rijkste Nederlander ooit? 'Dubbel zo rijk als Charlène de Carvalho-Heineken' (Is Jean-Louis van der Velde the richest Dutchman ever? 'Twice as rich as Charlène de Carvalho-Heineken') Quote, 11 March 2026, accessed 20 October 2026.
- ↑ Ryan Browne, Tether promotes CTO to CEO, taking over from mysterious crypto leader CNBC, 13 October 2023, accessed 20 October 2026.
- ↑ Tether, Tether Delivers $10B+ Profits in 2025, $6.3B in Excess Reserves, and Record $141 billion Exposure in U.S. Treasury Holdings Tether, 30 January 2026, accessed 20 October 2026.
- ↑ 9.0 9.1 Tether, Tether Licensed in El Salvador, Strengthening Focus on Emerging Markets and Innovation Tether, 13 January 2025, accessed 20 October 2026.
- ↑ 10.0 10.1 10.2 Office of the New York State Attorney General, Attorney General James Ends Virtual Currency Trading Platform Bitfinex’s Illegal Activities in New York New York State Attorney General, 23 February 2021, accessed 20 October 2026.
- ↑ 11.0 11.1 11.2 U.S. Commodity Futures Trading Commission, CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5 Million (release 8450-21) U.S. Commodity Futures Trading Commission, 15 October 2021, accessed 20 October 2026.
- ↑ Tim Berbers, Is Jean-Louis van der Velde (Tether) stiekem de rijkste man van Nederland? (Is Jean-Louis van der Velde (Tether) secretly the richest man in the Netherlands?) Quote, 13 August 2024, accessed 20 October 2026.
- ↑ Tether, Tether Freezes 32 Addresses Linked to Terrorism and Warfare in Israel and Ukraine Tether, 16 October 2023, accessed 20 October 2026.
- ↑ MacKenzie Sigalos, Tether freezes 32 crypto wallets holding $873,118 linked to terrorism and warfare in Israel, Ukraine CNBC, 16 October 2023, accessed 20 October 2026.