Giant Tether of Stazione Giant Buys a Minority Stake at Juventus Soccer Club

Tether Investments, the funding wing of stablecoin issuer Wire, announced it purchased a majority stake in European Championship A football club, Juventus. &nbsp,

The investment, according to the company, will help” create a new collaboration between sports and digital resources,” furthering its effort to incorporate stablecoins and digital assets into daily life. The investment’s economic details were kept secret.

” Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotechnology, with the well-established sports market to drive change globally”, said Tether CEO Paolo Ardoino in a statement. We will look for new partnerships that have the potential to transform the world’s sports surroundings.

The firm has a previous relationship to the world of sports, partnering with the area of Lugano, Switzerland last year for its” Plan B” Bitcoin program, which is the only official partner for FC Lugano’s products.

Amid news of the investment, crypto fan tokens tied to major soccer clubs on the Chiliz blockchain all saw notable price increases, led by the Juventus token ( JUV) which has increased by more than 100 % to$ 2.16 at the time of writing. &nbsp,

Another popular venues like Manchester City, FC Barcelona, and Paris Saint-Germain have all jumped by more than 5 % in the last 24 hrs.

Crypto companies have a long story with sports, especially in the way of naming freedom and endorsements. Though the trend dwindled in the midst of FTX’s debt, nearly two times as numerous sponsorship deals were signed in 2024 than in 2023, according to CoinGecko. &nbsp, &nbsp,

Juventus Football Club plays in Italy’s major professional football club, Serie A. The club was founded in 1897 and has won 36 category headings.