Tether Expects to Invest Over $1B in Deals in the Next Year: Bloomberg
-
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.
01:11
Why USDT Dominates Supply With Lower Transaction Volume
02:26
DOJ Wants CZ to Serve 3 Years in Prison; Tether to Freeze Wallets Evading Venezuelan Sanctions
02:17
Polymarket Traders Bet on Fed Rate Cuts; Bitcoin Spot ETFs Register Five-Day Withdrawals Streak
01:42
Bitcoin Starts Trading Week in the Red; Tether Freezes 41 Crypto Wallets Tied to Sanctions
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.
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.”
Tether did not immediately respond to CoinDesk’s request for further comment.
