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The cryptocurrency market is buzzing with activity as players react to impactful news. Tether, the largest stablecoin globally, continues to invest beyond cryptocurrency. The company allocates a portion of its profits from surplus reserves for investments in various sectors.
JUV and CHZ Coin Surge
Juventus’ cryptocurrency, JUV, and its issuer, Chiliz, known for CHZ Coin, are experiencing a remarkable increase. JUV Coin has gained over 160%, primarily due to Tether’s acquisition of a minority stake in Juventus.
“Tether, leveraging its investment arm beyond stablecoin reserves, is looking at strategic investments in global sports franchises. The company aims to integrate its digital assets, payments, and newfound expertise in artificial intelligence and biotechnology into the sports industry by forming a high-level advisory team. Tether collaborates with prominent figures like Juan Sartori, considering its involvement with Sunderland AFC and its extensive tenure at AS Monaco Football Club.”
“This acquisition signifies a crucial milestone in integrating stablecoins, digital assets, and people-first technology into everyday life.”
As the company announces its strategic minority stake in the club, Tether’s CEO stated:
“Aligned with our strategic investment in Juve, Tether will lead the integration of new technologies like digital assets, artificial intelligence, and biotechnology into the established sports industry. We will explore innovative collaborations and the potential to create a significant impact in the global sports arena.”
