Tether Expands Horizons with Investment in Juventus FC
Tether, the prominent cryptocurrency firm renowned for its $140 billion USDT stablecoin, announced on Friday its strategic investment in the esteemed Italian football club, Juventus FC. This investment was made through Tether Investments, the company’s dedicated investment arm, which has acquired a minority stake in the storied sports franchise. The news was detailed in a press release distributed to CoinDesk.
Following the announcement, shares of Juventus FC, which are publicly traded on the Italian stock exchange, saw a notable increase, advancing by 1.5%. This positive market reaction underscores the significance of Tether’s involvement in the club.
“Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotech, with the well-established sports industry to drive change globally,” stated Tether’s CEO, Paolo Ardoino, emphasizing the company’s commitment to innovation and progress in the sports sector.
This acquisition marks a notable shift for Tether, which recently reported impressive profits of $13 billion in the previous year. The firm is actively diversifying its portfolio beyond its core stablecoin operations, making strides in various sectors including artificial intelligence, payment solutions, and energy companies.
