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Cryptocurrency firm Tether raises Juventus stake to over 10%

Economic Times

Economic Times · 4m ago

Cryptocurrency firm Tether raises Juventus stake to over 10%

Cryptocurrency firm Tether has increased its stake in Italian Serie A soccer club Juventus to over 10%. Initially investing in February, Tether's latest shareholding accounts for 6.18% of voting rights. Controlled by the Agnelli family through Exor, Juventus remains a popular club in Italy. Tether's move signifies its long-term commitment to Juventus, showcasing confidence in the club's intrinsic value and growth potential, as stated in the firm's announcement.

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Related News

Jack Mallers’ Tether-Backed Bitcoin Firm Twenty One Raises $685 Million in Second Note Sale to Buy More Bitcoin | DeepNewz Markets

Business Bytes

Business Bytes · 3m ago

Jack Mallers’ Tether-Backed Bitcoin Firm Twenty One Raises $685 Million in Second Note Sale to Buy More Bitcoin | DeepNewz Markets

Jack Mallers' Bitcoin firm, Twenty One, backed by Tether, has successfully raised an additional $685 million. This significant investment will be used to purchase more Bitcoin, indicating strong confidence and continued interest in the cryptocurrency market.

Stablecoin Tether appoints chief technology officer Ardoino as CEO

Economic Times

Economic Times · 1y ago

Stablecoin Tether appoints chief technology officer Ardoino as CEO

Paolo Ardoino, the Chief Technology Officer of Tether, will assume the role of CEO from December 2023, marking a surprise change in the cryptocurrency firm's leadership. The current CEO, Jean-Louis van der Velde, will shift to an advisory role. Tether is known for issuing a stablecoin (USDT), which maintains a 1:1 peg to the US dollar and is widely used in cryptocurrency trading. Tether is the third-largest cryptocurrency by market capitalization, with $83.5 billion in circulation.

Cantor joins hand with SoftBank, Tether for $3.6 billion crypto venture

Economic Times

Economic Times · 4m ago

Cantor joins hand with SoftBank, Tether for $3.6 billion crypto venture

Cantor Fitzgerald has partnered with Tether and SoftBank to launch a $3.6 billion crypto venture named Twenty One Capital, focusing on bitcoin investments. The venture, valued through Cantor Equity Partners, highlights growing institutional interest in cryptocurrency. Offering access to substantial bitcoin holdings, it aims to become a major bitcoin treasury. Tether and Bitfinex will hold majority ownership, while SoftBank will have a minority stake. The initiative will trade on Nasdaq under the symbol XXI.

Tether freezes $873,000 in crypto linked to 'terrorism and warfare' in Israel and Ukraine

Economic Times

Economic Times · 1y ago

Tether freezes $873,000 in crypto linked to 'terrorism and warfare' in Israel and Ukraine

Stablecoin issuer Tether has frozen $873,118 in cryptocurrency linked to "terrorism and warfare" in Israel and Ukraine. The company did not provide details about the owners or the nature of their activity. Tether is working with Israel's National Bureau for Counter Terror Financing to combat cryptocurrency-funded terrorism but has not provided additional information. Israel recently froze cryptocurrency accounts used to collect donations for the militant group Hamas.

Stablecoin Tether crosses $100 billion tokens in circulation

Reuters · 1y ago

Stablecoin Tether crosses $100 billion tokens in circulation

Cryptocurrency company Tether has announced that the number of its dollar-pegged stablecoins has surpassed $100 billion. Tether's stablecoin is designed to maintain a value of $1 and is used for transferring money within the cryptocurrency market without the risk of volatility. The company claims to back its stablecoins with dollar-based reserves matching the volume of coins in circulation. However, regulators have expressed concerns about the potential for rapid outflows from stablecoin reserves. Tether recently agreed to provide quarterly reports on its reserves as part of a settlement with the New York Attorney General's office.

Roxom Raises $17.9 Million for Bitcoin Exchange and RoxomTV; Tether Invests $775 Million in Rumble | DeepNewz VC

Business Bytes

Business Bytes · 3m ago

Roxom Raises $17.9 Million for Bitcoin Exchange and RoxomTV; Tether Invests $775 Million in Rumble | DeepNewz VC

Roxom, a bitcoin-denominated exchange company, has successfully raised $17.9 million in funding. Key investors include Ego Death Capital, Kingsway Capital, Draper VC, and Borderless Capital. The platform focuses on offering futures, spot markets, and synthetic instruments, all priced and settled in Bitcoin. Tether has also invested $775 million, signifying robust support and interest in Roxom's innovative financial solutions within cryptocurrency markets.

Jack Mallers’ Tether-Backed Bitcoin Firm Twenty One Raises $685 Million in Second Note Sale to Buy More Bitcoin | DeepNewz Markets

Business Bytes

Business Bytes · 3m ago

Jack Mallers’ Tether-Backed Bitcoin Firm Twenty One Raises $685 Million in Second Note Sale to Buy More Bitcoin | DeepNewz Markets

Jack Mallers' Tether-backed Bitcoin firm, Twenty One Capital, has raised an additional $685 million to purchase more Bitcoin. This substantial funding boost underscores the ongoing interest and investments in Bitcoin.

ReserveOne, backed by crypto heavyweights, set to raise over $1 billion in Nasdaq listing - The Economic Times

Economic Times

Economic Times · 1m ago

ReserveOne, backed by crypto heavyweights, set to raise over $1 billion in Nasdaq listing - The Economic Times

ReserveOne, a new cryptocurrency holding company, plans a Nasdaq listing via a blank-check deal to raise over $1 billion. It will manage cryptocurrencies like Bitcoin, Ethereum, and Solana. The firm's leadership includes notable figures like former Hut 8 CEO Jaime Leverton and Tether co-founder Reeve Collins. Investors, including Blockchain.com and Kraken, are contributing up to $750 million. The deal aims to make crypto assets appealing to traditional investors, following a trend popularized by similar ventures.

Trump pick Lutnick's firm in talks with Tether for $2 billion bitcoin lending project: reports

Economic Times

Economic Times · 9m ago

Trump pick Lutnick's firm in talks with Tether for $2 billion bitcoin lending project: reports

Howard Lutnick, the pick for Commerce secretary by US President-elect Donald Trump, is reportedly in talks to launch a $2 billion project with Tether, the largest stablecoin operator. The project aims to lend dollars to clients against bitcoin, potentially reaching tens of billions of dollars. Lutnick's firm, Cantor Fitzgerald, is discussing receiving support from Tether for this initiative. Tether Investments mentioned it is exploring opportunities using profits from previous years. Stablecoins maintain a constant value and are backed by traditional currencies. Lutnick's appointment would give him additional responsibility for the US Trade Representative's office alongside leading the Commerce Department.

Stablecoin Issuer Tether Says Third-Quarter Profit Was $2.5 Billion

Livemint

Livemint · 10m ago

Stablecoin Issuer Tether Says Third-Quarter Profit Was $2.5 Billion

Tether Holdings, the company behind the largest stablecoin, reported a net profit of $2.5 billion in Q3 2021. The profit was largely driven by gains from its holdings of US Treasuries and gold. Tether, which doesn't release audited financial statements, has seen the market value of its USDT token in circulation rise to nearly $120 billion. The company claims to have over $6 billion in excess reserves. Tether also disclosed investments of $7.7 billion in various sectors, including renewable energy, Bitcoin mining, and artificial intelligence.

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