Main stablecoin issuer, Tether, invested 10 million euros ($10.8 million) in Italian media firm Be Water.
In response to a March 27 announcement, Tether acquired a 30.4% stake in Rome-based Media Water. Tether CEO Paolo Ardoino mentioned the corporate acknowledged “the significance of unbiased media in shaping knowledgeable societies.”
“Our funding in Be Water aligns with our imaginative and prescient to help technology-driven innovation throughout industries,” Ardoino added.
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In response to its LinkedIn page, Be Water is an Italian producer and distributor of movies, documentaries and collection that handle fashionable social points in addition to journalism.
The corporate’s govt chairman, Guido Maria Brera, mentioned that the agency’s goal is to be “able to producing and distributing content material throughout a number of platforms — podcasting, movie, tv and dwell occasions — with a powerful, numerous and unbiased voice.” He added:
“With Tether’s entry and the technological experience of Paolo Ardoino, we have now the chance to speed up our development and broaden our attain each in Italy and globally.”
Supply: Paolo Ardoino
Vital modifications for Be Water
Following the deal, Be Water’s board of administrators can be restructured to incorporate Ardoino and Tether chief working officer Claudia Lagorio. The corporate plans to make use of the capital to improve its digital infrastructure and broaden its content material manufacturing and distribution capabilities.
The corporate may also broaden the investigative journalism departments of the Italian podcast platform Chora Media and social media information group Will Media.
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Tether retains investing
In response to its announcement, Tether noticed earnings exceeding $13 billion in 2024, with its US Treasury holdings surpassing $113 billion, fueling the agency’s ongoing funding drive.
In February, Tether acquired a majority stake in Juventus FC, a serious Collection A soccer membership based mostly in Turin, Italy. Throughout the identical month, the stablecoin operator sought to acquire a majority stake in South American agribusiness agency Adecoagro.
A few of these investments have already began paying off. Rumble, the video platform through which Tether invested $775 million in late 2024, not too long ago announced the launch of its pockets for content material creator funds with help for Tether’s USDt (USDT) stablecoin.
Tether and Paolo Ardoino had not responded to Cointelegraph’s inquiry by publication time.
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