Tether, Cryptocurrency company behind $ 140 billion USDT stableecoin said Friday it has invested in the Italian football club Juventus FC.
The company’s investment arm, Tether Investments, acquired a minority share in the sports club, according to a press release shared with Coindesk. Juventus FC shares traded publicly on the Italian stock exchange advanced 1.5% immediately after the news.
“In line with our strategic investments in Juve, Tether will be a pioneer in the merger of new technologies, such as digital assets, AI and Biotech, with the well -established sports industry to drive changes globally,” Tether CEO Paolo Ardoino said in a statement.
The acquisition comes after Tether reported $ 13 billion in profits last year and expanded beyond its core -stablecoin business with investments in artificial intelligence, payments and energy companies.
