Main stablecoin issuer, Tether, invested 10 million euros ($10.8 million) in Italian media firm Be Water.
Based on a March 27 announcement, Tether acquired a 30.4% stake in Rome-based Media Water. Tether CEO Paolo Ardoino mentioned the corporate acknowledged “the significance of unbiased media in shaping knowledgeable societies.”
“Our funding in Be Water aligns with our imaginative and prescient to help technology-driven innovation throughout industries,” Ardoino added.
Associated: Tether seeks Large 4 agency for its first full monetary audit — Report
Based on its LinkedIn web page, Be Water is an Italian producer and distributor of movies, documentaries and sequence that deal with trendy social points in addition to journalism.
The corporate’s government chairman, Guido Maria Brera, mentioned that the agency’s goal is to be “able to producing and distributing content material throughout a number of platforms — podcasting, movie, tv and reside occasions — with a powerful, various and unbiased voice.” He added:
“With Tether’s entry and the technological experience of Paolo Ardoino, we now have the chance to speed up our development and develop our attain each in Italy and globally.”
Supply: Paolo Ardoino
Important adjustments for Be Water
Following the deal, Be Water’s board of administrators will likely be restructured to incorporate Ardoino and Tether chief working officer Claudia Lagorio. The corporate plans to make use of the capital to improve its digital infrastructure and develop its content material manufacturing and distribution capabilities.
The corporate may also develop the investigative journalism departments of the Italian podcast platform Chora Media and social media information group Will Media.
Associated: Tether’s US treasury holdings surpass Canada, Taiwan, and ranks seventh globally
Tether retains investing
Based on its announcement, Tether noticed income exceeding $13 billion in 2024, with its US Treasury holdings surpassing $113 billion, fueling the agency’s ongoing funding drive.
In February, Tether acquired a majority stake in Juventus FC, a serious Collection A soccer membership based mostly in Turin, Italy. Throughout the identical month, the stablecoin operator sought to accumulate a majority stake in South American agribusiness agency Adecoagro.
A few of these investments have already began paying off. Rumble, the video platform during which Tether invested $775 million in late 2024, lately introduced the launch of its pockets for content material creator funds with help for Tether’s USDt (USDT) stablecoin.
Tether and Paolo Ardoino had not responded to Cointelegraph’s inquiry by publication time.
Journal: Ridiculous ‘Chinese language Mint’ crypto rip-off, Japan dives into stablecoins: Asia Specific