Tether ups its stake in Juventus Football Club to 10.12%
Tether has increased its stake in Juventus, reportedly as part of a broader effort to re-enter the European market after being sidelined by compliance issues under MiCA.
Tether Investments, the investment arm of the stablecoin issuer Tether ( USDT ) has increased its stake in Juventus Football Club to over 10.12% of the issued share capital, representing 6.18% of the voting rights. This follows an initial acquisition of 8.2% of the club’s shares.
Alex Obchakevich, founder of Obchakevich Research, told Cointelegraph that the increased stake is part of Tether’s efforts to improve its image and regain access to the European market after losing it due to compliance issues with the Markets in Crypto-Assets Regulation (MiCA).
Earlier this year, Binance delisted USDT from spot trading pairs in the European Economic Area to comply with the MiCA regulation. The delisting began in early March and was fully implemented by April.
That said, Tether recently backed the launch of MiCA-compliant stablecoins EURR and USDR via StablR and Oobit, aiming to regain market presence in Europe after USDT was delisted by major exchanges.
In addition to the Juventus investment, Tether has been actively acquiring stakes in other companies. Recently, the firm invested €10 million ($11.4 million) in the Italian media company Be Water and poured $775 million into the Canadian video platform Rumble in late 2024.
Despite growing stakes in various companies, a reported $13 billion profit in 2024 and a projected $7.4 billion in 2025 EBITDA, placing Tether among the world’s top 20 most valuable companies, Tether has stated it has no plans to go public.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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