Company Tether , a stablecoin company, has acquired a minority stake in Juventus Football Club, founded more than 125 years ago in Turin, Italy.
According to the Tether , the investment supports the company’s “goal to integrate stablecoins, digital assets, and human-centric technologies into everyday life.” Financial details of the deal were not disclosed.
According to Forbes, Juventus is the 11th most valuable football franchise in the world, with a value of $2,05 billion. As of May 2024, the team's annual revenue was $459 million.
В Tether reported that the company plans to continue making "strategic investments" in sports clubs in order to attract more users.
Last year was a record year for the organization. Tether was able to earn $13 billion, and its investments in US Treasury bonds reached a maximum of $113 billion. Steyblecoin USDT has become the largest stablecoin in terms of circulation volume, with over $140 billion.
Crypto companies have been actively entering into partnership agreements with sports clubs in recent years. According to CoinGecko, there were a total of 2021 such deals from 2024 to 92.
This week the stock exchange Gate.io announced a partnership with the Red Bull Formula 1 team. In November 2024 Crypto.com sponsored a golf tournament with the first-ever prize paid entirely in digital assets.
