Tether Acquires Stake in Juventus as It Expands Beyond Crypto

Tether’s latest move into sports ownership has made waves as the company secured a minority stake in Juventus, one of Italy’s most prestigious football clubs.

The investment aligns with Tether’s broader strategy of integrating blockchain technology into mainstream industries, particularly sports.

In its announcement, Tether emphasized that this acquisition positions it to explore new synergies between digital assets and professional sports. The company has already made inroads into the sector through its sole sponsorship of Swiss club FC Lugano. Now, with Juventus in its portfolio, Tether aims to push the boundaries of blockchain adoption in sports, merging its expertise in digital payments, artificial intelligence, and biotechnology with the global football scene.

Tether’s CEO, Paolo Ardoino, highlighted the firm’s vision of reshaping the sports industry by leveraging cutting-edge technology. He described the Juventus investment as part of a broader push to foster innovation and create new opportunities for collaboration in the space.

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Meanwhile, Tether is also addressing concerns raised by JP Morgan regarding regulatory pressures. The financial giant suggested that the company may be forced to sell off some of its Bitcoin holdings to comply with proposed US stablecoin regulations. Ardoino dismissed these claims, emphasizing that Tether’s balance sheet remains strong, with over $20 billion in liquid assets beyond its stablecoin reserves. He pointed out that the company generates more than $1.2 billion in quarterly profits from US Treasuries alone, without accounting for other investments.

Ardoino also took a jab at JP Morgan, implying that the bank’s skepticism stems from its failure to capitalize on Bitcoin’s growth. His comments come amid Tether’s continued expansion, with the firm reinforcing USDT’s dominance by citing its global reach, increasing reserves, and strategic moves into key markets such as the UAE.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.