Tether revealed Thursday it’s investing in a pair of corporations unrelated to the crypto trade, persevering with an funding spree that has solely intensified for the reason that firm reported report income earlier this yr.
The El Salvador-based firm snapped up 49,596,510 shares of Latin American-focused agricultural agency Adecoagro, rising its stake within the enterprise to 70%, in response to an SEC submitting revealed Thursday.
“Our funding aligns with Tether’s broader technique to again infrastructure, expertise, and companies that advance financial freedom and resilience, particularly in areas the place these values are most wanted,” Tether CEO Paolo Ardoino mentioned in a press release.
Adecoagro is a sustainable manufacturing firm with pursuits in Argentina, Brazil and Argentina.
Individually, Ardoino introduced on X that his firm would even be investing in Italian media firm Be Water. By the tip of March, Tether will maintain a 30.4% stake within the firm by way of a €10 million capital enhance and fairness acquisition.
“Whereas usually Media firms are bullied into kneeling to sponsored narratives merely to outlive, Tether’s funding in BeWater ensures that the group will proceed to stay stable, visionary and particularly impartial,” Paolo wrote within the X submit.
The non-public firm’s newest investments come a couple of months after it reported record-smashing income for 2024. Tether mentioned in January that its yearly web income hit a brand new all-time excessive of greater than $13 billion final yr, citing an assurance opinion for the fourth quarter of 2024 issued by international accounting agency BDO. The stablecoin issuer additionally reported $7 billion in extra capital.
Tether has used its funds over the previous few months to extend its stake within the Bitcoin mining firm Bitdeer, along with upping its management of firms such because the video platform Rumble and Italian soccer membership Juventus.
Final yr, it additionally invested $19 million in XREX Group, a agency that additionally has backing from the Taiwanese Authorities Nationwide Improvement Fund. USDT is the third-largest cryptocurrency, and the most important stablecoin, on this planet with a market capitalization of $144 billion, in response to CoinGecko information.
Edited by James Rubin
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