Tether: Cryptocurrency firm purchases minority stake in Juventus | OneFootball

Cryptocurrency firm Tether have officially announced that they have acquired a minority stake in Juventus football club.

Tether is the world’s largest company in the digital asset industry, and is led by an Italian CEO in Paolo Ardoino, along with compatriot Giancarlo Devasini. The company is based in El Salvador, where cryptocurrency is considered legal tender.

Tether claims to have posted profits of $5.2b during the first half of 2024.

The crypto firm have another investment in a professional football club: They are also the shirt sponsors of Swiss outfit FC Lugano.

Tether announces minority stake in Juventus

“Tether, the largest company in the digital asset industry, announced that it has acquired a minority stake in Juventus Football Club S.p.A, one of the most successful and iconic football clubs in the world,” read an official press release, which was put out on Friday.

It continued: “This investment marks a significant milestone for Tether.  Following the unveiling of its long-term strategic vision, which spans from leading the digital asset industry with USDt, the most used stablecoin in the world with a market capitalization of more than 140 billion USD and more than 400 million users across emerging markets, to acquiring and developing leading companies in the Artificial Intelligence (“AI”), bitcoin mining and biotech spaces, Tether is now uniquely positioned to integrate its futuristic portfolio into the realms of the sports industry.”