Tether Doubles Down on Juventus Stake—Because Even Stablecoins Need a Hail Mary Play
Tether’s latest move isn’t about printing USDT—it’s about printing tickets. The stablecoin giant just upped its ante in Italian football club Juventus, turning crypto’s favorite fiat proxy into an unlikely sports mogul.
Why? Diversification, baby. When your core business is backing tokens with reserves that may or may not exist (we kid... mostly), you hedge your bets with some Serie A glamour. Juventus shares promptly mooned 12% on the news—because nothing says ’sound investment’ like mixing volatile crypto and even more volatile football finances.
This isn’t Tether’s first rodeo. They’ve been quietly building a non-crypto empire spanning mining, energy, and now sports. Smart play? Or desperate bid for legitimacy? Either way, it’s a masterclass in using monopoly money to buy real-world assets.
Just don’t ask what happens if regulators finally check their reserves mid-game.
Tether continues to diversify investments
Meanwhile, Tether’s foray into football club ownership is the latest of the company’s efforts to diversify after achieving significant success with USDT stablecoin. The dominance and success of USDT have left Tether flush with cash, and it has been plowing some of it into other businesses.
Over the past year, the company has invested in various ventures, including video sharing platform Rumble and agribusiness company Adecoagro. The firm also invested in data center operator Northern Data Group and brain interface company Blackrock Neurotech.
Beyond these investments, it has also launched its own commodities trading platform, peer-to-peer chat app Keet Mobile, and unveiled its artificial intelligence initiative, Tether Data, a few months ago.
Meanwhile, the firm’s latest effort is a Bitcoin holding company launched in partnership with Cantor Fitzgerald and Softbank. The company, Twenty One Capital, will launch with 42,000 Bitcoin worth over $3.6 billion, with Tether donating $1.6 billion while its affiliate exchange Bitfinex contributes $600 million. SoftBank is adding $900 million for a minority stake.
USDT remains Tether’s core business but could be at risk
Despite the diversification efforts, USDT remains the biggest business for Tether, with the company reporting $13 billion in profits last year. USDT has continued to grow and recently reached a milestone of $146 billion in market capitalization, enough for it to have a 61% dominance, according to Defillama.
Still, USDT could face some challenges, especially as more countries continue to regulate the stablecoin sector. Crypto exchanges in Europe have already delisted the stablecoin due to the Market in Crypto Assets (MiCA) regulation. There are concerns that the same thing could happen in the US once there is a Stablecoin Act.
However, the firm has promoted itself as a tool for spreading US Dollar hegemony globally. This is true to a large extent, with USDT having over 450 million users globally, most of whom are in developing economies and emerging markets.
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