Tether Invests $200M Into Elon Musk’s Neuralink Rival Blackrock Neurotech
Highlights
- Stablecoin issuer Tether invests $200 Mln into Blackrock Neurotech.
- Blackrock Neurotech is one of Neuralink's most prominent rivals.
- Tether advances with its plans to expand offerings.
Tether, the stablecoin titan behind USDT, recently announced that it is strategically investing in Blackrock Neurotech, a prominent rival of Elon Musk’s neural implant firm Neuralink, to boost brain-computer interface (BCI) technology.
In an official statement released by the stablecoin firm today, April 29, significant attention was drawn to the staggering $200 million investment done by Tether Evo, a newly formed venture division of Tether. This investment has caused waves across the broader crypto market, as Tether recently illustrated efforts to further expand its offerings into various sectors, including data, education, and power sectors.
Tether’s New Venture: Supporting Brain-Computer-Interface Technology
According to the stablecoin giant’s statement, the abovementioned strategic investment aims to bolster one of the global pioneers in neuroscience, neural engineering, and neural prosthetics technology. With Tether’s colossal investment weighing in, the stablecoin giant is now a key stakeholder in Blackrock Neurotech.
Inaugurated in 2008, Blackrock Neurotech has swiftly ascended to the forefront of global technological innovation in neuroscience, neural engineering, and neural prosthetics, thanks to the expertise of esteemed scientists and pioneers in Brain-Computer Interface (BCI) technology, Dr. Florian Solzbacher and Marcus Gerhardt. Situated in Salt Lake City, Utah, the firm stands committed to alleviating the plight of millions worldwide grappling with paralysis, neurological disorders, and impaired bodily functions hindering mobility.
Tether’s testament to expanding its offerings, as the firm mentioned earlier, further aligns with its investment into Blackrock Neurotech. Not long ago, Tether ruled out expansion plans that further align with this investment, CoinGape Media reported.
Also Read: Bitcoin and Ethereum Lead Three Weeks of Crypto Investment Outflows, What’s Next?
A Journey Beyond Stablecoins
Earlier this month, Tether revealed plans to to broaden its area of services beyond stablecoins, delving into a range of infrastructure solutions. These infrastructure solutions included ‘Data, Finance, Power, and Education.’
The abovementioned developments underscore a pivotal diversification of operations for the stablecoin issuer, marking as a landmark achievement across the global crypto realm. At press time, Tether USDT coin witnessed a 22.62% surge in its 24-hour trading volume, reaching $46.84 billion.
Also Read: 10 Catalysts Traders Are Watching as Bitcoin Price and Crypto Market Falls Lower
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