Tether — the stablecoin operator behind leading stablecoin USDT — just announced that it acquired a majority stake in Italian soccer club Juventus.
According to a Feb. 14 announcement, Tether acquired a minority stake in Juventus Football Club S.p.A. (JUVE). The market responded, with the football club trading 1.56% higher on the day. Tether CEO Paolo Ardoino said:
“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. We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape.”
The details
Tether’s USDT stablecoin currently has a market cap of over $141.8 billion and according to the firm counts “more than 400 million users across emerging markets.” All this activity let Tether accumulate a significant amount of capital that according to previous reports was worth $118.5 billion in the summer of 2024.
At the time, the company was investing in artificial intelligence (AI) and emerging technology companies to give a job to its excess capital. Ardoino said at the time:
“Tether has become extremely profitable in the last two years thanks to the increase in interest rates. When Tether started, you could make 0.2 percent on the reserve, but today you can make 5.5 percent.”
Tether operates its own Tether Evo investment spinoff company, which invested in brain-computer interface startup Blackrock Neurotech — the company makes brain-implantable chips that can allow people to control computers and prosthetic arms. The subsidiary also invested in AI training-focused data center operator Northern Data Group.
Still, a portfolio this heavily focused on technology was not satisfactory to the company’s management. The announcement explains:
“Tether is now uniquely positioned to integrate its futuristic portfolio into the realms of the sports industry.”
