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Who is the Controversial Founder of Tether now Running for Congress?


Not only is Brock Pierce the man behind Tether, but he was also a child actor in Hollywood. Now, Pierce is setting his sights on politics. 

Covered:

  • The Peculiar Past of Mr. Brock Pierce
  • Vying for Vermont Senate Seat

The Peculiar Past of Mr. Pierce

Brock Pierce is arguably the most influential man in crypto who nobody knows about. This is quite ironic in light of the fact that Pierce is a former Hollywood actor, perhaps best known as the younger Gordon Bombay in The Mighty Ducks franchise.

Pierce’s entrenched role in the history of crypto is uniquely random and peculiar. Pierce is behind the now-defunct Mastercoin, which was started way back in 2013. He was then elected as Director of the (also now-defunct) Bitcoin Foundation in 2014.

Remarkably, Pierce is also the co-founder of Block.one, the firm behind EOS. Their ICO in 2017 raised more than 4 billion USD, which is still the largest in history. He resigned in 2018. You can read more about some of his major business follies, here. Or, his alleged links to Jeffrey Epstein, here.

However, the magnum opus for Pierce is when he co-founded the Tether stablecoin with Reeve Collins and Craig Sellars in 2014. We don’t need to dive into the lore of Tether, suffice it to say its controversy is on-brand with the past dealings of Mr. Piece.

A deep dive by Bloomberg on the Tether story can be read here. In short, the most remarkable thing about Tether is there are only 5 known employees, and yet has a market cap of 79 billion, which makes it the 41st largest ‘bank’ in the United States.

We would post a photo of their HQ building, but there are no known photos of it. Apparently, they are headquartered in Hong Kong. However, when you zoom in on the address, it is pinpointed to a clothing store in the Guandong Province called ‘Western Suit.’

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Purported location of Tether HQ.

Pierce hasn’t been involved with Tether since 2015, though, according to a Bloomberg interview. Nevertheless, Pierce is one of the top 20 wealthiest people in crypto, with a net worth north of 700 million, beating out the likes of Mike Novogratz.

Recommended: USDC Is Killing Tether FUD

Brock Pierce Vying for Vermont Senate Seat

Now Pierce is setting his sights on the political arena, and if elected, would really become one of the oddest ‘polymaths’ in the modern era. According to Decrypt, Pierce has filed a statement of candidacy to run for a vacant Senate seat in Vermont.

His campaign has already spent over $250,000 since the end of 2021. No longer tethered to Tether, Pierce, who claims “deep family roots” in the Green Mountain State, claims to have moved to Vermont and pursue this next career move.

However, as Decrypt notes, “it’s not certain Pierce, a denizen of Puerto Rico” is even qualified to run. “Law School Professor Peter Teachout, who says while it’s “technically possible” for Pierce to just buy or rent a house in the state, it’s “realistically highly unlikely.”

On his campaign website, he calls himself an independent, who can “use his technology expertise to expand internet and cellular service in Vermont, create high-paying jobs, and improve the sustainability of the state’s agriculture.”

Pierce has been on the go lately, apparently spending most of February in Israel “to discuss technological issues with regional lawmakers.” What this actually means, is really anyone’s guess. In an interview with the Roundtable in December, though, he did make it clear he was serious about running.

In the interview, he said: “I didn’t do it with the intention of winning. I did it as an exploratory mission to understand the mechanics of the system.” His goal of “knocking on every door and talking to 250,000 people” appears to be stalled as he travels through Israel to “inform and educate”.

The midterm elections take place this November, and it is yet to be known if this is a mere experiment or a serious candidacy for Pierce. Still, it’s serious enough that the website allows you to donate to his campaign in crypto, should you be inclined.

Recommended: Top Five Most Hated-On Cryptos Of 2021





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