Hassan Maishera
TL;DR
-
Tether’s CEO has revealed that the company has allocated over $1 billion for deals in the next year.
-
The stablecoin issuer invests most of its reserves in U.S. treasury bills and other securities.
Tether to Invest $1B in Deals
The investment arm of Tether is diversifying its portfolio by allocating over $1 billion for deals over the next few months. This is according to a Bloomberg report on Tuesday.
Tether CEO Paolo Ardoino stated that the stablecoin issuer’s focus for investment is financial infrastructure, AI, and biotech. The CEO added that Tether has already invested roughly $2 billion in these areas in the last two years and intends to continue this trend.
Tether is the issuer of USDT, the largest stablecoin in the world. The company invests most of its reserves in U.S. treasury bills and other securities, earning billions of dollars in profit. However, the CEO pointed out that the company will allocate a percentage of its reserves for deals.
He stated that,
"It's all about investing in technology that helps with disintermediation with traditional finance. Less reliance on big tech companies like Google, Amazon, and Microsoft."
Tether has already invested in some notable companies, including a $200 million majority stake in brain-computer interface company Blackrock Neurotech. It has also invested in Northern Data Group, a leading data cloud provider.
