What happened?
Stablecoin issuer Tether has made a strategic investment in the Italian football club Juventus, with CEO Paolo Ardoino stating on X: “Let’s make Juventus great again!”
Tether’s investment in Juventus aligns with the company’s goal of integrating stablecoins and digital assets into everyday life. Additionally, Tether has announced that it is pursuing strategic investments in global sports teams.
Apart from Tether, other cryptocurrency firms are also making significant inroads into the sports market, including exchanges such as Gate.io, Crypto.com, and Coinbase.
Tether Acquires Minority Stake in Juventus
Stablecoin USDT issuer Tether recently announced the acquisition of a minority stake in the Italian football club Juventus FC, promoting the application of blockchain and digital asset technology in the sports industry. Founded 125 years ago, Juventus is one of the oldest and most successful football clubs in Italy’s Serie A.
According to Forbes, Juventus has a market value of approximately $2.05 billion, with projected revenue of $459 million in 2024.
In an article published on February 14, Tether stated that this investment aligns with the company’s goal of “integrating stablecoins, digital assets, and human-centric technology into everyday life.” Furthermore, CEO Paolo Ardoino wrote on X: “Let’s make Juventus great again!”
Although the investment amount has not been disclosed, Tether emphasized that the company is engaging in “strategic investments in global sports teams,” aiming to promote the adoption of digital assets and payment technologies through these collaborations.
According to a report by CryptoSlate, Tether’s investment division operates independently, thus not using USDT stablecoin reserves. Moreover, the company is organizing a team of expert advisors to explore how blockchain technology can be applied to team management, fan interaction, and payment systems.
Cryptocurrency Firms Actively Invest in the Sports Industry
In recent years, cryptocurrency firms have been actively investing in the sports industry, hoping to enhance mainstream recognition of digital assets. According to CoinGecko, there were 26 partnerships related to sports and cryptocurrency in 2024, with a total of 92 partnerships from 2021 to 2024.
In addition to Tether, other cryptocurrency firms are also making significant strides in the sports market. For instance, the exchange Gate.io recently announced a collaboration with the Red Bull F1 team to integrate blockchain technology into motorsports, while the exchange Crypto.com sponsored a golf tournament with prizes paid in digital assets and signed an exclusive partnership agreement with the UEFA Champions League.
Additionally, the American exchange Coinbase reached a sponsorship agreement with the NBA’s Golden State Warriors in October 2024.
Tether’s investment in Juventus not only symbolizes the rapid penetration of blockchain technology and cryptocurrency assets into the global sports industry but also enhances the brand’s visibility beyond the Web3 realm, further educating the public on the applications of stablecoins and digital assets.
Sources: CryptoSlate, Cointelegraph