Tether Aim to Invests Big in Tech With $1 Billion Deal Target
Tether, the company behind the world’s biggest stablecoin USDT, is aiming to invest heavily in technology. Their venture capital arm is looking to make deals worth $1 billion over the next year, according to CEO Paolo Ardoino.
Ardoino highlighted artificial intelligence (AI), financial infrastructure, and biotechnology as their key investment areas. This focus aligns with Tether’s past investments, totaling $2 billion in these sectors over the past two years.
Tether generates significant profits by holding most of its reserves in safe assets like U.S. Treasury bills. Ardoino indicated they’ll be using a portion of these profits to fund these new deals.
“We’re looking to invest in technologies that reduce reliance on traditional financial systems and big tech companies like Google, Amazon, and Microsoft,” Ardoino explained.
Some of Tether’s previous investments include a majority stake in Blackrock Neurotech, a brain-computer interface company, and involvement with data center provider Northern Data Group.
Tether has not yet responded to requests for further comment.
