Stablecoin issuer Tether has increased its participation in the Italian Serie a football club Juventus to 10.12%. The company published it in an official announcement, noting that it now has 6.18% of the voting rights in the club.
Its decision Follows the previous 8.2% of the club's share capital, which at that time had given him more than 5% of voting rights. By increasing its stake, the company said it showed its commitment.
Juventus is one of the most beautiful football clubs in Italy, which has several domestic and European trophies, as well as a huge fan base around the world. However, the club has recently worked on the field and is currently fifth at the Serie A table.
But Tether intends to make the club more competitive again, noting that its additional investment is a proof of his confidence in the value and growth potential of the club. The company also intends to cooperate with Juventus and believes that partnerships will benefit everyone.
It said:
“The leadership of Tether in digital assets of several trillion dollars is combined with several billion dollar investments with artificial intelligence, biotechnology, social media and global distribution networks-is an opportunity to bring an incomparable value to the football club.”
Meanwhile, Tether CEO Paolo Ardoino added that the investment in Juventus is not Tather's financial commitment, but reflects the company's cooperation plan to cooperate.
He said:
“We believe that Juventus is uniquely in the position of accepting both the field and technology, which can increase fan involvement, digital experience and financial endurance.”
Although he did not mention how he paid to acquire his stake, the company said that he agrees to participate in any further equity investment that improves the club's financial position.
Tether continues to diversify investment
At the same time, Tether is a touch of ownership of football clubs from the company's latest efforts to diversify after a significant success USDT stableinTo. The domination and success of USDT have left the trap with cash and has plowed part of other companies.
Over the past year, the company has invested in various ventures, including Rumble and Agribusiness Company Adecoagro. The company also invested in the data center operator Northern Data Group and the Blackrock Neurotech company.
In addition to these investments, he has also launched his trading platform, peer-to-peer chat app Keet Mobile and disclosed his artificial intelligence initiative a few months ago “Tether Data).
Meanwhile, the company is the newest venture of the company Bitcoin, which was launched in cooperation with Cantor Fitzgerald and Softbank. The company, Twenty One Capital, launches $ 42,000 worth over $ 3.6 billion, with $ 1.6 billion, while the exchange company exchange Bitfinex gives $ 600 million. Softbank adds $ 900 million for a minority stake.
USDT is still raising the main business but may be in danger
Despite the diversification aspirations, USD is still the largest business, with the company announcing $ 13 billion last year. USDT has grown and recently reached a $ 146 billion market capitalization milestone to Defillama, according to Defillama, it would be 61% dominance.
However, USDT may face a challenge, especially since more countries regulate the stable sector. Crypto exchange in Europe has already deleted due to stability Cryptocurrency Market (Mica) Regulation. There is a concern that the same thing can happen in the US if there is a stable activity.
But confident Has advertised itself as a means of spreading US dollar hegemony worldwide. This applies to a large extent, with USDT over 450 million users worldwide, most of whom are in advanced and developing markets.
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