tl;dr
Stablecoin issuer Tether has invested €10 million in Italian media company Be Water, acquiring a 30.4% equity stake. The investment aims to support international expansion and bolster digital infrastructure with blockchain technology. Despite Tether's CEO emphasizing the preservation of editorial in...
Tether, the stablecoin issuer, has invested €10 million in Italian media company Be Water, acquiring a 30.4% equity stake. This investment aims to support international expansion and bolster digital infrastructure with blockchain technology. Despite Tether's CEO emphasizing the preservation of editorial independence, the investment has reshaped Be Water's ownership structure, with Tether representatives joining the board.
Be Water plans to enhance its digital infrastructure, expand investigative journalism, and collaborate with international film and TV production talent. Meanwhile, Tether's core business of USDT stablecoin has surpassed 400 million users worldwide, with a market cap exceeding $140 billion. Tether's CEO highlighted USDT's role in bridging financial gaps and emphasized a grassroots adoption approach.
This partnership is part of Tether's broader expansion beyond financial technology, with previous investments in media, biotech, sports, and video platforms.
Tether CEO Paolo Ardoino has emphasized the importance of preserving editorial independence, stating that the investment would help Be Water avoid pressure from commercial narratives and maintain its creative freedom.
Despite the CEO's claim, the investment has led to changes in Be Water's ownership structure, with Tether representatives joining the board and key individuals from both companies assuming new roles.
Moreover, Be Water is launching a significant development plan, including investments in digital infrastructure, expansion of investigative journalism, and partnerships with international film, TV, and documentary production talent.
While Tether expands its investment portfolio, the company's core business of USDT stablecoin remains robust, crossing 400 million users worldwide and boasting a market cap exceeding $140 billion. Tether's CEO highlighted USDT as a grassroots solution bridging financial gaps where traditional systems fall short.