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Tether Expects to Invest Over $1B in Deals in the Next Year: Bloomberg
Tether's focus for investment is financial infrastructure, AI and biotech, CEO Paolo Ardoino said in an interview.
Updated Jun 11, 2024, 2:12 p.m. Published Jun 11, 2024, 2:09 p.m.
- Tether invests most of its reserves in U.S. treasury bills and other securities to return billions in profit.
- Ardoino said it will allocate a percentage of this for deals.
Stablecoin developer Tether's investment arm expects to make deals worth $1 billion in the next year, CEO Paolo Ardoino has said, according to a Bloomberg report on Tuesday.
Tether's focus for investment is financial infrastructure, AI and biotech, Ardoino said in an interview. The company has also invested around $2 billion in these areas in the last two years, a trend it expects to continue.
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As the operator of the world's largest stablecoin USDT, Tether invests most of its reserves in U.S. treasury bills and other securities to return billions in profit. Ardoino said it will allocate a percentage of this for deals.
"It's all about investing in technology that helps with disintermediation with traditional finance," he said. "Less reliance on big tech companies like Google, Amazon and Microsoft."
Among Tether's most notable investments to date are its $200 million majority stake in brain-computer interface company Blackrock Neurotech and its association with data cloud provider Northern Data Group.
Tether did not immediately respond to CoinDesk's request for further comment.
Read More: Tether Buys $100M Worth of Bitdeer Shares With Option to Purchase $50M More
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