Tether, the cryptocurrency firm behind the $ 140 billion USDT, said on Friday that he has invested in the Italian football club Juventus FC (Juve).
The investment arm of the firm, the Tether investments, acquired a minority participation in the sports club, according to a press release shared with Coindesk. Juventus FC actions, which are publicly negotiated in the Italian Stock Exchange, advanced 2.5% immediately after the news. The price of Crypto fans (JUV) token of the club increased almost 200% in minutes before reducing some of the profits, according to Coingcko data.
“Aligned with our strategic investment in Juve, Tether will be a pioneer in the fusion of new technologies, such as digital assets, AI and biotechnology, with the sports industry well established to boost change worldwide,” said the CEO of Tether, Paolo Ardoino, in a statement.
The acquisition occurs after Tether reported $ 13 billion in earnings last year, and expanded beyond his central Stablecoin business with investments in artificial intelligence, payments and energy companies.
Update (February 14, 14:30 UTC): Add Juventus actions, fans token pricing earnings.
