Tether, the company behind the USDT stablecoin, has acquired a minority stake in Italian football club Juventus FC through its investment arm, Tether Investments. This move signals Tether's expansion beyond its core cryptocurrency business into the sports industry, leveraging technologies like digital assets and AI.
Stablecoin firm Tether's investment arm has acquired a minority stake in Juventus FC, the firm said on Friday.Tether reported $13 billion in group-wide profits last year and expanded beyond its crypto business to artificial intelligence, payments and energy.
Tether, the cryptocurrency firm behind the $140 billion USDT stablecoin, said on Friday it has invested in Italian football club Juventus FC. The firm's investment arm, Tether Investments, acquired a minority stake in the sports club, according to a press release shared with CoinDesk. Juventus FC shares, which are publicly traded on the Italian stock exchange, advanced 1.5% immediately after the news.
"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," said Tether CEO Paolo Ardoino in a statement.$13 billion in profits last year, and expanded beyond its core stablecoin business with investments in artificial intelligence, payments and energy companies.Krisztian Sandor is a U.S.
Finance Technology Sports TEETHER INVESTMENTS JUVENTUS FC CRYPTOCURRENCY SPORTS INDUSTRY
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