USDT Issuer Tether Buys Stake in Soccer Membership Juventus

Tether, the cryptocurrency agency behind the $140 billion USDT stablecoin, mentioned on Friday it has invested in Italian soccer membership Juventus FC (JUVE).

The agency’s funding arm, Tether Investments, acquired a minority stake within the sports activities membership, in accordance with a press launch shared with CoinDesk. Juventus FC shares, that are publicly traded on the Italian inventory change, superior 2.5% instantly after the information. The worth of the membership’s crypto fan token (JUV) surged practically 200% in minutes earlier than paring a number of the beneficial properties, CoinGecko information exhibits.

“Aligned with our strategic funding in Juve, Tether shall be a pioneer in merging new applied sciences, equivalent to digital property, AI, and biotech, with the well-established sports activities trade to drive change globally,” mentioned Tether CEO Paolo Ardoino in an announcement.

The acquisition comes after Tether reported $13 billion in earnings final yr, and expanded past its core stablecoin enterprise with investments in synthetic intelligence, funds and vitality firms.

UPDATE (Feb. 14, 14:30 UTC): Provides Juventus share, fan token value beneficial properties.