Tether CEO Backs Petition to Restore Vandalized Satoshi Nakamoto Statue in Switzerland

The Tether CEO, Paolo Ardoino, has shared a Change.org petition calling for the restoration of the Satoshi Nakamoto statue in Lugano, Switzerland. As of August 8 at 11:00 UTC, the petition has received 1,030 signatures, surpassing its initial goal of 1,000 signatures [1]. The petition was launched by a group of Lugano residents and was promoted by Ardoino through a social media post, in which he expressed his hope to achieve the target within a single day [1].

The Satoshi statue, a life-sized black steel artwork created by Valentina Picozzi, was unveiled in October 2024 by Tether during the 3rd Annual Plan ₿ Forum in Lugano [1]. The artwork was a tribute to the mysterious creator of Bitcoin and was intended to symbolize the city’s growing prominence in the cryptocurrency space. However, the statue was vandalized and destroyed in late July 2025, with its remains found scattered in Lake Ceresio [1]. A post on social media by user Gritto suggests that a group of intoxicated individuals were responsible for the damage, which occurred on August 1 [1].

Picozzi, the original artist, has expressed willingness to recreate the statue at her own expense [1]. However, the petition emphasizes the need for logistical and security support from the City of Lugano to facilitate the restoration. Additionally, it proposes that the statue be relocated to a new and more secure location, one that can provide better visibility while also ensuring its long-term preservation [1].

Ardoino was one of the first to publicly respond to the recovery of the damaged statue. Upon its retrieval from the lake, he shared a post with a red heart emoji, expressing appreciation for its return [1]. Tether’s involvement in the unveiling of the statue in 2024 further highlights the company’s interest in maintaining the artwork as a symbol of Bitcoin culture and innovation [1].

The petition’s rapid success, reaching 1,030 signatures in a short period, suggests strong community interest in preserving the artwork. The next steps will depend on the city’s response to the petition and its willingness to provide the necessary support. If the city agrees to collaborate, Picozzi’s offer to rebuild the statue could lead to a swift restoration. However, the logistics of relocating the statue and ensuring its security remain unresolved challenges [1].

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[1] https://coinmarketcap.com/community/articles/6895ea38e21b950c870dd2e3/