 While representatives from Tether and Bitfinex say that the two are separate, the Paradise Papers leaks in November 2017 named Bitfinex officials Philip Potter and Giancarlo Devasini as responsible for setting up "Tether Holdings Limited" in the British Virgin Islands in 2014.A spokesperson for Bitfinex and Tether has said that the CEO of both firms is Jan Ludovicus van der Velde.According to Tether's website, the Hong Kong-based "Tether Limited" is a fully owned subsidiary of "Tether Holdings Limited".