Brock Pierce, Cryptocurrency Pioneer Has Had No Involvement with Tether Since 2015

NEW YORK, Oct. 5, 2021 /PRNewswire/ -- Brock Pierce, cryptocurrency pioneer and former US Presidential candidate, clarifies his position vis-à-vis Tether, a stablecoin company which launched in 2014 as the "first stablecoin." Tether is currently being investigated by New York State Attorney General after an appellate division of the U.S. Supreme Court published an opinion on July 9, 2020 allowing further investigation.

Pierce states, "I was one of the principal founders of Tether, but I was never a director, nor officer of the business. I was passively involved. In 2015, I transferred 100 percent of my ownership to our minority partners in exchange for zero consideration. I have never made one cent from Tether." Pierce adds emphatically.

The original intention for the business was to show the world how this technology could benefit them. Tether has done well to demonstrate the utility of a stablecoin. It has inspired governments and central banks all over the world to implement their own strategies based on this proven success.

About Brock Pierce:

Brock Pierce is an entrepreneur and venture capitalist with an extensive track record of founding, advising and investing in disruptive businesses. He's credited with pioneering the market for digital currency and has raised more than $5B for companies he has founded. Pierce is the Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Block.one, Blockchain Capital, and Mastercoin (first ICO).

Pierce is an early investor in Bitcoin and one of the largest investors in the Ethereum crowd sale. He is the founder of IMI Exchange, the world's leading digital currency marketplace for games, with annual sales exceeding $1B and investors such as Goldman Sachs, which was sold in 2016 for more than $100M. Pierce founded ZAM, one of the world's largest media properties for gamers, which was acquired by Tencent in 2012. He founded IGE, the pioneer of digital currency in online games, achieving revenues exceeding $100 million in 2006 and sold in 2007. Pierce is also a co-founder of D10e, GoCoin, Blade Payments, Five Delta, Xfire 2.0, Playsino, Evertune, GamesTV, and DEN. He also advises Airswap, Bancor, BitGo, BitGuild, BlockV, Bloq, DNA, Element Group, Metronome, Shyft, and tZERO.

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SOURCE Brock Pierce