Major stablecoin issuer, Tether, invested 10 cardinal euros ($10.8 million) successful Italian media institution Be Water.
According to a March 27 announcement, Tether acquired a 30.4% involvement successful Rome-based Media Water. Tether CEO Paolo Ardoino said the institution recognized “the value of autarkic media successful shaping informed societies.”
“Our concern successful Be Water aligns with our imaginativeness to enactment technology-driven innovation crossed industries,” Ardoino added.
Related: Tether seeks Big Four steadfast for its archetypal afloat fiscal audit — Report
According to its LinkedIn page, Be Water is an Italian shaper and distributor of films, documentaries and bid that code modern societal issues arsenic good arsenic journalism.
The company’s enforcement chairman, Guido Maria Brera, said that the firm’s nonsubjective is to beryllium “capable of producing and distributing contented crossed aggregate platforms — podcasting, film, tv and unrecorded events — with a strong, divers and autarkic voice.” He added:
“With Tether’s introduction and the technological expertise of Paolo Ardoino, we person the accidental to accelerate our maturation and grow our scope some successful Italy and globally.”
Source: Paolo Ardoino
Significant changes for Be Water
Following the deal, Be Water’s committee of directors volition beryllium restructured to see Ardoino and Tether main operating serviceman Claudia Lagorio. The institution plans to usage the superior to upgrade its integer infrastructure and grow its contented accumulation and organisation capabilities.
The institution volition besides grow the investigative journalism departments of the Italian podcast level Chora Media and societal media quality enactment Will Media.
Related: Tether’s US treasury holdings surpass Canada, Taiwan, and ranks 7th globally
Tether keeps investing
According to its announcement, Tether saw profits exceeding $13 cardinal successful 2024, with its US Treasury holdings surpassing $113 billion, fueling the firm’s ongoing concern drive.
In February, Tether acquired a bulk involvement successful Juventus FC, a large Series A shot nine based successful Turin, Italy. During the aforesaid month, the stablecoin relation sought to get a bulk stake successful South American agribusiness steadfast Adecoagro.
Some of those investments person already started paying off. Rumble, the video level successful which Tether invested $775 million successful precocious 2024, precocious announced the launch of its wallet for contented creator payments with enactment for Tether’s USDt (USDT) stablecoin.
Tether and Paolo Ardoino had not responded to Cointelegraph’s enquiry by work time.
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