Tether Eyes Over $1 Bln Investment In AI & Biotech: Report
Highlights
- Stablecoin giant Tether reveals its plans to invest over $1 billion into AI and biotech sectors.
- Paolo Androino, Tether CEO, spotlights the investment's key aspects.
- Tether's past ventures further align with the firm's recent diversification into sectors beyond stablecoin production.
Stablecoin giant Tether has once again made global headlines with its strategic investment programs, revealing plans to venture into AI & Biotech sectors in the near future. According to a recent report dated June 11, the stablecoin giant aims to invest over $1 billion in the coming 12 months into the abovementioned sectors via its investment arm, Tether Holdings Inc.
Spotlighted by the firm’s CEO, Paolo Ardoino, this investment plan follows the stablecoin’s recent ventures into numerous sectors, encompassing the Data, Finance, and Neural Implants sectors, among many others. Here’s a closer look into the firm’s latest investment strategy that gained significant traction.
Paolo Adrino Highlights Investment Strategy
In a recent interview, the Tether CEO claimed that its investments division, a growing team of 15 members, already oversees as many as hundreds of pitches each month, primarily from startups. These talks happen to have a keen interest in alternative financial infrastructure for emerging markets, artificial intelligence, and biotech.
Ardoino added, “We can offer AI computing to all the companies we have invested in. It’s all about investing in technology that helps with disintermediation with traditional finance. Less reliance on the big tech companies like Google, Amazon, and Microsoft.”
The stablecoin giant has already spent over $2 billion aiming to satisfy these interest-catered needs, Ardoino stated in the interview. Recent reports by CoinGape Media have further spotlighted Tether’s this diversification of endeavors.
Also Read: Binance Labs Invests In AI zk Rollup Zircuit: Here’s Everything
Tether’s Diversification Beyond Stablecoin
Tether appears to have recently invested a whopping $200 million in Blackrock Neurotech, a neural implant firm that rivals Elon Musk’s Neuralink. Moreover, the stablecoin giant also revealed this year that it is expanding its services and advancing into infrastructure solutions encompassing data, finance, power, and education sectors.
It’s also worth noting that the firm that brought the stablecoin USDT boasted a $4.52 billion profit for Q1 2024, per a recent post by the CEO on X. Concerning this, Ardoino added, “You can imagine that the news that Tether is making good money went around the world,” glimmering optimism for the stablecoin producer.
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