🚀 Tether’s $1 Billion Bet on Fintech, AI, and Biotech
posted 12 Jun 2024
Tether, the issuer of the USDT stablecoin, is set to invest another $1 billion over the next year in projects related to alternative financial infrastructure, artificial intelligence, and biotechnology. This follows a significant $2 billion investment in these fields over the past two years.
The investments will be managed by Tether Investments, a dedicated unit within the company. The funds will be sourced from profits generated through U.S. Treasury bonds, while ensuring 100% reserves for USDT and an additional 6% for contingencies.
We are not a classic VC, We do invest in things that we care about, and we have our own strategy,- stated Tether's CEO, Paolo Ardoino.
Ardoino emphasized that, unlike typical venture capitalists, Tether will not be driven by short-term financial performance expectations. Instead, the focus will be on extremely interesting projects.
Tether is looking to diversify its business beyond stablecoins, which have encountered regulatory hurdles recently. In April, Tether created four new divisions focused on finance and investment, data processing, BTC mining, and educational initiatives. Moreover, Tether aims to launch its own platform for tokenizing securities and issuing CBDCs.
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