Tether Invests In Italian Football Club Juventus FC

According to CoinDesk, Tether, the cryptocurrency company behind the USDT stablecoin valued at $140 billion, announced on Friday its investment in the Italian football club Juventus FC. Tether Investments, the firm's investment division, has acquired a minority stake in the club. Following the announcement, Juventus FC shares, which are listed on the Italian stock exchange, rose by 2.5%. Additionally, the club's crypto fan token, JUV, experienced a significant surge of nearly 200% before stabilizing, as reported by CoinGecko. Tether CEO Paolo Ardoino stated that the investment aligns with the company's strategy to integrate new technologies, including digital assets, artificial intelligence, and biotechnology, into the sports industry to foster global change. This move marks a significant step for Tether as it seeks to expand its influence beyond its primary stablecoin operations. Last year, Tether reported profits of $13 billion and has since diversified its investments into sectors such as artificial intelligence, payments, and energy.