Tether, a cryptocurrency company, purchases a minority share in Juventus

Tether Investment, a cryptocurrency company, announced on Friday that it has acquired a minority investment in Juventus (JUVE.MI), an Italian Serie A soccer team, without revealing the extent of its ownership.

The “strategic” nature of the investment in the Milan-listed team was stated by Tether in a statement posted on online.

“Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotech, with the well-established sports industry to drive change globally” , stated Paolo Ardoino, CEO of Tether.

Juventus of Turin is owned by the Agnelli family of Italy through their investment firm Exor (EXOR.AS), according to a new tab that was not immediately accessible for comment.