Amid more than €166.2 million in crypto-related assets declared by candidates in Brazil's 2026 elections, one filing stands out not just for its size but for the asset behind it. Fernando Irineu de Souza, known as Fe, a candidate for state deputy in São Paulo for the PDT (a Brazilian political party), declared to Brazil's electoral court, the Tribunal Superior Eleitoral (TSE), that he holds €83.1 million in a "Community Token" that, by his own account, does not yet exist.
The asset accounts for practically all of the €83.28 million in wealth reported by the candidate to the electoral authorities. In the asset description, Fe states he owns 10% of a "Community Token to be launched soon by Jornal Super Heróis News". The entry was filed under the category "copyright, inventor's right and patent".
The maths makes the case even more unusual. If a 10% stake is worth €83.1 million, the implied valuation of the entire project would be €831 million.
The problem is that there is no public information that comes close to confirming that valuation. Searches carried out by Portal do Bitcoin for the token's name, for Super Heróis News and for Fernando Irineu found no white paper, no blockchain, no contract address, no ticker, no token supply, no tokenomics, no price, no trading venue, no liquidity and no public technical documentation of any kind linked to the asset declared to the TSE.
The Super Heroes World website itself, which the candidate lists on his social media and also cites among his assets, is online, but searches of the domain turned up no indexed pages presenting the Community Token or explaining how it works. The site itself is fairly odd, with no posts, only a series of random stock quotes and three clickable logos that lead to unrelated videos.
In other words, there is no way to verify either that this alleged token exists or that it will ever be created.
Even so, the figure is significant for the wider survey of candidates' crypto holdings. Of the more than €166.2 million found across 320 asset declarations linked to the sector filed by 162 candidacies, €83.1 million comes from the Community Token declared by Fe alone.
Who is Fe, the owner of the €83 million token?
Fernando Irineu de Souza was born in Jundiaí, in the interior of São Paulo state, is 46 years old and declared to the TSE that he is a businessman, single, with incomplete higher education. His ballot name is Fe, number 12023, and he is running for state deputy for the PDT. As of the most recent update of the records consulted, his candidacy application was still awaiting a ruling from the electoral court.
The declared fortune of €83.28 million places Fe among the wealthiest candidates in this year's elections. A survey by the Brazilian outlet Metrópoles, based on TSE data, ranked him fourth nationally, behind three other candidates with large business and financial fortunes.
Also read: Candidates in Brazil's 2026 elections declare more than €166 million in cryptocurrencies to the TSE
But unlike the candidates ranked above him, practically all of Fe's wealth comes from a single asset whose valuation cannot be verified publicly. Besides the €83.1 million in the Community Token, his other eight assets add up to just €180,327.
These include €83,100 for a 100% stake in Sportflix, €16,620 for 100% of Fism Invest, €16,620 for a 51% stake in a company called Itaú Russia, €46,536 in a debt instrument, €12,465 in cash, and three rights he describes as "patents" on the Sportflix, Superheroes World and Itaú Russia websites, valued at €1,662 each.
None of these companies, however, appear to have any real operations. Itaú Russia stands out in particular, as the name evokes Brazil's largest private bank, Itaú Unibanco, though it has no relation to that institution whatsoever. The other ventures have no official websites or clear records.
Two of these companies, however, do have business registrations that can be verified in Brazil. Sportflix Ltda., set up in 2015 in Jundiaí, is listed as active with registered capital of €83,100. Fernando Irineu de Souza Miguel appears as managing partner. Despite the name suggesting a sports streaming platform, its registered core activity is intermediation and brokering of general services and business; secondary activities listed include internet services, content portals and audiovisual post-production.
Fism Invest Ltda., also based in Jundiaí, is active with registered capital of €16,620. Its registered core activity is business management consultancy, and Fernando also appears as managing partner.
The online universe built by the candidate, however, goes well beyond these two companies.
Digital products attributed to Fernando, still available on Hotmart, are sold under names such as "Fe Presidente" and describe the businessman, in English, as a candidate for the presidency of Brazil in 2026, even though his registered candidacy with the TSE this year is for state deputy.
One of the products promises to present his plans to transform Brazil between 2027 and 2030 and describes him as "nerd, businessman, banker, and politician". Another advertises the story and work of the "Super Hero who decided to transform Brazil's reality". The pages also direct users to Superheroes World, Sportflix, the Fe Presidente store and his social media accounts.
From "superhero" to owner of "Itaú Russia"
It is on Fe's social media that the mix of projects takes on even more unusual shapes.
On the Instagram account listed by the candidate himself with the TSE, Fernando presents himself as "Nerd, Banker and Politician" and founder and president of projects including Sportflix, Super-Heróis and "iRussia". The profile contains thousands of posts combining politics, football, celebrities, superheroes, Russia and graphic pieces credited to Super Heroes News.
Among the recurring elements is precisely "Itaú Russia".
The company is also officially listed in the candidate's asset declaration. Fe states he owns 51% of "Itaú Russia", a stake valued at €16,620. There is an important detail in the description itself submitted to the electoral court: according to the candidate, the company is "being incorporated in the tax domicile of the Russian Federation". He also attributed a further €1,662 to a "patent for the Itaú Russia website".
In other words, Fe's own declaration does not present Itaú Russia as an established, operating bank, but as a company in the process of being incorporated.
On social media, however, the presentation is more ambitious.
In one post found on the profile, the project is called "the wonderful bank". The text states that Itaú Russia intends to operate in markets across Asia, Eastern Europe, the United Arab Emirates and Africa, and mentions banking activities and an investment portfolio.
Another post on the account carries the caption "Fiscal and Administrative Headquarters of Itaú Russia in Moscow", alongside a logo created for the project. This outlet searched for independent references to "Itaú Russia" linked to Fernando Irineu but found no public evidence of an operating financial institution with that name in Russia.
Putin, Victoria Beckham and Arena Corinthians
The posts make the project even more peculiar because the candidate inserts the "Itaú Russia" brand into material featuring internationally known figures and venues.
One post features the phrase "Itaú Russia Miami" next to the name of former Spice Girl and businesswoman Victoria Beckham. Another links the brand to the Neo Química Arena, home stadium of Brazilian football club Corinthians. There is also content featuring Russian president Vladimir Putin and other Russia-related material. The pieces typically carry phrases such as "Original Creations", "Exclusive Series" and are credited to Fernando Irineu or Super Heroes News.
It is worth stressing that Fernando has no actual connection to any of these people or companies.
This pattern also helps put into context the project supposedly linked to the €83.1 million Community Token. Super Heróis News/Super Heroes News repeatedly appears as a kind of umbrella for content and creations published by Fe, but there is no explanation of the token itself, let alone of how the €83.1 million figure was calculated.
The description filed with the TSE does not indicate whether there was an investment round, an independent valuation, a private token sale, an investor contribution or any other event that could serve as a reference point for the price. And, since the candidate himself says the token has yet to be launched, there is no public quotation against which the stake could be marked to market.
This is precisely what sets the case apart from other large crypto fortunes declared in the elections.
A Bitcoin, for instance, has a verifiable price across thousands of markets. Even if the value reported to the TSE does not match the current price, it is possible to verify the asset's existence, its trading and its price. In the case of Fe's Community Token, the €83.1 million figure rests, as far as the publicly available documentation allows one to determine, solely on the valuation put forward by the candidate himself.
As a result, the entry formally remains part of the €83.28 million in wealth submitted to the electoral court and places Fernando Irineu among the wealthiest candidates in Brazil. But it does not demonstrate that a market, liquidity or buyers willing to pay €83.1 million for the 10% stake in the token exist today. A separate report examining the largest declared fortunes among TSE candidates made the same caveat: a value reported by a candidate does not mean the asset has liquidity or a proven market value at that figure.
In Fe's case, the gap is particularly stark. Without the Community Token, his declared wealth would fall from €83.28 million to €180,327 — and even then, there is still much that is strange about the candidacy.
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