365Crypto
Tether, the world’s top stablecoin issuer, is stepping onto the soccer pitch — this time in the boardroom. The company plans to nominate its own candidates for Juventus Football Club’s board ahead of the Nov. 7 shareholder meeting.
The move comes as part of Tether’s $129 million capital boost in the Italian club, where it already holds a 10.7% stake. CEO Paolo Ardoino said the investment reflects the firm’s “long-term commitment to innovation and collaboration.”
Juventus’ leadership has seen turbulence before. In late 2022, the entire board resigned amid salary manipulation allegations. Former chair Andrea Agnelli and two others later accepted plea deals with Italian prosecutors.
The timing of Tether’s proposal coincides with USDt’s 11th anniversary. With a market cap of over $177 billion, it remains the world’s largest stablecoin. Meanwhile, a ruble-backed coin, A7A5, recently grabbed headlines as the biggest non-dollar stablecoin.
Tether’s expansion isn’t limited to football. Earlier this year, it took a 30% stake in Italian media firm *Be Water* to support independent journalism. It also poured $775 million into video platform Rumble and teamed up on a $1 billion bid for AI firm Northern Data. Ardoino, who’s been spotted at the White House during President Trump’s tenure, appears to be tightening Tether’s links between crypto, media, and politics.
(*Stablecoin*: A type of cryptocurrency pegged to a stable asset, like the US dollar, to minimize price volatility.)
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