Tether Becomes Juventus’ Second-Largest Shareholder, Seeks Board Seat

Blockchain firm Tether, the largest stablecoin issuer, has become the second-largest shareholder in the Italian football club, Juventus, with a 10.7% stake. According to a Bloomberg report, Tether aims for a board seat and intends to introduce fresh ideas and innovative strategies into Juventus’ management.

Tether Eyes a Seat on Juventus’ Board

Tether’s investment in the Italian football club marked a milestone as the first European team to accept a crypto firm as a major shareholder. With a 10.7% stake valued at $149 million, Tether became the club’s second-largest shareholder. This follows the club’s longstanding management by Exor NV, the Agnelli family’s investment firm, which has spanned over a century.

The crypto firm’s investment in Juventus extends beyond simple financial support. It serves as a strategic move that could reshape the football club’s governance. If the stablecoin issuer secures a seat on Juventus’ board, it would share ideas that could potentially enhance the football club’s operations. This development occurs as the club faces increasing pressure from investors and supporters amid financial and sporting challenges.

Tether’s bid for a Juventus board seat shows its long-term commitment to the football club. The stablecoin issuer aims to influence strategic decisions and increase returns. This move could open doors for other crypto companies investing in traditional industries, helping them expand their portfolios and gain a foothold in the established ecosystem.

Tether’s CEO, Paolo Ardoino, and Juventus’ chairman will engage in meaningful discussions about the possibility of onboarding Tether to the club’s board after the current tournament.

Tether Expands Tentacles

Over the past months, Tether has dipped its toes into various endeavours to grow its investments. An earlier report confirmed that the stablecoin issuer acquired a majority stake in the Bitcoin mining firm, Bitdeer.

Tether has also explored artificial intelligence, Bitcoin treasury strategy, and others. It has also expanded its tentacles into developing stablecoins pegged to other currencies aside from the United States dollar. These efforts have collectively aided the company to remain the leading stablecoin issuer.

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