Tether Boosts Stake in Juventus to Over 10%

Tether, the issuer of the world’s largest stablecoin, has raised its stake in the Juventus Football Club to over 10% after expanding its stake in the Italian giant earlier this month. This latest move gives Tether Investments S.A. de C.V., the firm’s investment arm, 6.18% of voting rights. That cements Tether as a significant shareholder and hints at deeper involvement in the governance and financial future of one of Europe’s most storied sports institutions. Juventus, founded in 1897 and with 36 league titles to its name, is a major club in Italian and European football. Tether originally acquired an 8.2% stake in the club back in February. Tether’s CEO Paolo Ardoino described the deal as more than a financial investment. “We believe Juventus is uniquely positioned to lead both on the field and in embracing technology that can elevate fan engagement, digital experiences, and financial resilience. We’re excited about the opportunities ahead,” Ardoino said. The company also expressed willingness to join future capital infusions to “help strengthen Juventus’s financial foundation and avoid dilution of its position. “ The stablecoin giant, which reported $13 billion in profit last year, has been investing in a number of sectors. These include artificial intelligence, bitcoin mining, and agriculture. Shares of Juventus are up more than 2.7% to 3.2 euros ($3.65) as of the time of writing.

Source: CoinDesk