tl;dr
Tether has increased its stake in Juventus Football Club to 10.12% of issued shares, gaining 6.18% of voting rights. This prompted Juventus’s fan token, JUV, to rise over 10% to $1.08. Other fan tokens like Trabzonspor, Napoli, Galatasaray, and Barcelona also saw gains. Tether CEO Paolo Ardoino desc...
Tether has increased its stake in Juventus Football Club to 10.12% of issued shares, giving it 6.18% of voting rights. This strategic move boosted Juventus’s fan token, JUV, by over 10% to $1.08, marking a two-month high. Other fan tokens like Trabzonspor, Napoli, Galatasaray, and Barcelona also experienced gains, with Trabzonspor surging 14% and the others rising around 3%.
Tether CEO Paolo Ardoino emphasized that this investment goes beyond finance, describing it as a long-term commitment to innovation and collaboration. He highlighted Juventus's potential to lead in both sports and digital transformation to enhance fan engagement, digital experiences, and financial resilience. Tether aims to participate in future equity rounds to avoid dilution and strengthen Juventus’s financial standing while collaborating closely with the club’s leadership, potentially shaping its future governance.
Beyond football, Tether is diversifying its investments outside the cryptocurrency space. The company acquired a 30% stake in media startup Be Water with an $11 million investment and has bid for the agricultural firm Adecoagro. Despite these ventures, Tether continues supporting crypto projects like the Fizen payments app and co-launching the $3 billion Bitcoin-focused fund 21 Capital alongside Cantor Fitzgerald, Bitfinex, and SoftBank.
Tether’s flagship stablecoin, USDT, remains a dominant force, serving over 400 million users with a market capitalization exceeding $145 billion, underscoring the company’s significant footprint in both crypto and traditional investment sectors.