Tether, the most important Stablecoin in the crypto world, has announced that he has acquired a minority share of Juventus Football Club Spa One of the most winning and iconic football clubs in the world. This investment, reads the company’s website, marks “a significant milestone for Tether”.
While Blockchain technology has played a leading role in professional sports with the aim of improving the experience of the fans, the acquisition by Tether of a share of minority ownership in Juve aims to provide “a synergy between assets digital and sporty at a new level ».
Tether is examining his strategic investments in sports franchise all over the world and integrating his digital assets, payments and skills of artificial intelligence and recently acquisition in the sports sector and assembling a high -level consultancy team for this initiative.
«In line with our strategic investment in Juve, Tether will be a pioneer in unwinding new technologies, such as digital assets, artificial intelligence and biotechnology, with the sports industry consolidated to guide change globally. We will explore roads for innovative collaborations and the potential to revolutionize the global sports landscape, “said Paolo Ardoino, CEO of Tether.
Who is Giancarlo Devasini, co-founder of Tether
Giancarlo Devasini is a Turin entrepreneur born in 1964, known for his role as co-founder and financial director of Tether, one of the main companies in the cryptocurrency sector. His career began in the medical field: Graduated in Medicine at the University of Milan, he practiced the profession of plastic surgeon for two years. However, dissatisfied with the profession, he decided to abandon it to devote himself to the electronics sector, where he started a company that reached a turnover of over 100 million euros, sold just before the 2008 crisis.
In 2012, Devasini approached the world of cryptocurrencies, starting with small exchanges of bitcoins on specialized forums. Subsequently, he co-founded Bitfinex, a cryptocurrency exchange platform, and Tether, a Stablecoin whose value is anchored to the US dollar. These initiatives have contributed significantly to its ascent in the financial world, leading it to hold a participation of 47% in tether and an estimated assets of 9.2 billion dollars, making it the fourth richest person in Italy.
Tether is a company specialized in the creation of Stablecoin, a cryptocurrency designed to maintain a stable value anchored to a Fiat currency, such as the dollar. This makes them less volatile than other cryptocurrencies such as Bitcoin. Tether’s Stablecoin USDT is widely used in the cryptocurrency market to facilitate exchanges and provide liquidity. In 2023, Tether recorded a profit of 6.2 billion dollars, consolidating his position as a leader in the sector.