Tether Plans $1 Billion Acquisition of Juventus in Landmark Crypto Move
Tether has made a binding $1 billion offer to acquire Italian football giant Juventus, marking one of the most ambitious forays by a crypto firm into traditional sports. The proposed deal would see the stablecoin issuer purchase Exor's 65.4% controlling stake, ending the Agnelli family's century-long stewardship of the club.
Market reaction was immediate and pronounced. Juventus' fan token JUV surged 30% on the news, while the club's shares jumped significantly. The bid values Exor's existing stake at approximately €540 million, with Tether committing to a transparent public offering for remaining shares post-regulatory approval.
This acquisition represents a watershed moment for crypto's mainstream acceptance. By targeting one of Europe's most storied football institutions, Tether demonstrates the sector's growing financial muscle and ambition to reshape traditional industries.
