In a move that’s sure to raise eyebrows, Tether, the company behind the $140 billion stablecoin (USDT), has decided to diversify its portfolio in 2025. How, you ask? By acquiring a minority stake in Italian football giant Juventus FC.
That’s right, folks. The crypto titan is expanding beyond digital payments, Bitcoin, and AI, and they’ve set their sights on the world of sports. According to a press statement, the investment aims to integrate digital assets into everyday life through sports.
Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotech, with the well-established sports industry to drive change globally.
Paolo Ardoino, Tether CEO
Last year, Tether became the sole kit sponsor for FC Lugano through its Plan ₿ in collaboration with the Swiss city. “We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape,” according to Ardoino on Feb. 14.
Make Juventus Great Again 🦓
— Paolo Ardoino 🤖🍐 (@paoloardoino) February 14, 2025
Crypto firms have been targeting the multi-billion-dollar global sports industry to introduce digital assets to millions of fans worldwide. An exodus of betting sponsors, particularly among European football clubs, has created an opportunity for crypto businesses to expand their reach and attract new user bases.
Notably, crypto firms aren’t targeting only football institutions. Racing franchises have also been a hotbed for digital asset partnerships. Also on Feb. 14, Coinbase sealed a Formula 1 sponsorship deal with Aston Martin, funded with Circle’s stablecoin (USDC).
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2025-02-14 19:13