Tether To Invest More Than $1 Billion In Crypto Deals - InvestingChannel

Tether To Invest More Than $1 Billion In Crypto Deals

%Stablecoin developer %Tether plans to invest more than $1 billion U.S. in %Cryptocurrency deals over the next year, says Chief Executive Officer Paolo Ardoino.

In an interview with Bloomberg News, Ardoino said that Tether’s investments are likely to focus on financial infrastructure, artificial intelligence (A.I.), and biotechnology firms.

The company has already invested $2 billion U.S. in those areas over the past two years, a trend Ardoino sees continuing.

Tether currently operates the world’s largest stablecoin, known as (CRYPTO: $USDT). A stablecoin is a cryptocurrency that is pegged to the value of an underlying asset, usually the U.S. dollar or gold.

The USDT cryptocurrency was created by Tether to function as the Internet’s digital dollar, with each token worth $1 U.S. and backed by American currency reserves.

Tether invests most of its reserves in U.S. treasury bills and other securities to return billions in profit to its community of investors.

Ardoino told Bloomberg that, going forward, Tether plans to allocate a percentage of its reserves to deals in the crypto space.

Among Tether’s most significant investments to date has been a $200 million U.S. majority stake in brain-computer company Blackrock Neurotech and data cloud provider Northern Data Group.

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