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Welcome to Tech News Briefing. It's Tuesday, March 11th. I'm Charlotte Gartenberg for The Wall Street Journal.

President Trump signed an executive order last week, officially establishing a strategic Bitcoin

Reserve and a stockpile for other cryptocurrencies. The president's call to bring crypto into the

mainstream through government regulation

has raised the stakes of a battle over the $3 trillion industry between two crypto kings,

Italian billionaire Giancarlo DeVasini and American Jeremy Aller.

DeVasini's company Tether and Aller's company's circle are in a battle not only for who can dominate the industry, but who can survive this fight.

We'll hear from WSJ reporter Angus Barak, who has been following the rivalry and the cryptocurrencies at the center of it.

Angus, we're talking about two stable coins here, Tether and USD coin.

Stable coins are a form of cryptocurrency designed to be pegged to other assets like the US dollar.

Let's start with Tether and the man behind it.

Who's Giancarlo de Vassini?

Giancarlo DeVasini, he's the mystery man kind of at the center of the kind of crypto world.

He's run tether for over a decade back from the early days of crypto, when Bitcoin was worth

like under $100. He's pretty much never spoken publicly.

He's very rarely been seen publicly.

It's difficult to say exactly how much he's worth,

but he has a majority stake in Tether.

And Tether last year said it earned over $13 billion,

which is double the amount that Black Rock earned. So he's immensely wealthy,

...