Tether acquires 30% stake in Italian media company Be Water

Significant stablecoin provider, Tether, invested 10 million euros ($ 10.8 million) in Italian media business Be Water.

According to a March 27 statement, Tether got a 30.4% stake in Rome-based Media Water. Tether CEO Paolo Ardoino stated the business acknowledged “the value of independent media in forming notified societies.”

” Our financial investment in Be Water lines up with our vision to support technology-driven development throughout markets,” Ardoino included.

Related: Tether looks for Big 4 company for its very first complete monetary audit– Report

According to its LinkedIn page, Be Water is an Italian manufacturer and supplier of movies, documentaries and series that attend to contemporary social problems along with journalism.

The business’s executive chairman, Guido Maria Brera, stated that the company’s goal is to be “efficient in producing and dispersing material throughout numerous platforms– podcasting, movie, tv and live occasions– with a strong, varied and independent voice.” He included:

” With Tether’s entry and the technological knowledge of Paolo Ardoino, we have the chance to accelerate our development and broaden our reach both in Italy and worldwide.”

Considerable modifications for Be Water

Following the offer, Be Water’s board of directors will be reorganized to consist of Ardoino and Tether chief running officer Claudia Lagorio. The business prepares to utilize the capital to update its digital facilities and broaden its material production and circulation abilities.

The business will likewise broaden the investigative journalism departments of the Italian podcast platform Chora Media and social networks wire service Will Media.

Related: Tether’s United States treasury holdings exceed Canada, Taiwan, and ranks 7th worldwide

Tether keeps investing

According to its statement, Tether saw earnings going beyond $13 billion in 2024, with its United States Treasury holdings exceeding $113 billion, sustaining the company’s continuous financial investment drive.

In February, Tether got a bulk stake in Juventus FC, a significant Series A football club based in Turin, Italy. Throughout the exact same month, the stablecoin operator looked for to get a bulk stake in South American agribusiness company Adecoagro.

A few of those financial investments have actually currently begun settling. Rumble, the video platform in which Tether invested $775 million in late 2024, just recently revealed the launch of its wallet for material developer payments with assistance for Tether’s USDt (USDT) stablecoin.

Tether and Paolo Ardoino had actually not reacted to Cointelegraph’s query by publication time.

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