Stablecoin issuer Tether has invested $200 million in Blackrock Neurotech, a biotech company, through Tether Evo.
Stablecoin issuer Tether has invested $200 million in Blackrock Neurotech, a biotech company that builds tools to help people afflicted with paralysis, lost function, and neurological disorders.
"Tether investments are made outside of the stablecoin reserves using company profits," Tether CEO Paolo Ardoino told The Block. Tether reported a record net profit of $2.9 billion in its latest Q4 2023 attestation report published earlier this year. Tether Evo is the latest in Tether’s recently launched divisions, such as Tether Data, Tether Finance, Tether Power, and Tether Edu, which are expanding the company’s focus beyond stablecoin offerings.
In 2016, patient Nathan Copeland used Blackrock's BCI technology to control a robotic arm and fist bump then U.S. President Barack Obama. With the implants in his sensory cortex, Nathan was even able to “feel” the President’s hand. In other patients, Blackrock’s technology has been used to decode entire words and sentences from brain signals to give a voice to those who have lost their ability to speak due to neuromuscular disease or injury, Tether said.
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