Finance
What to Know: 🤯
- Tether, the crypto titan behind the world’s largest stablecoin, USDT, has set its sights on the legendary Juventus FC, aiming to elevate its minority stake to 100%… 🦁💰
- The firm proposed to acquire Exor’s 65.4% stake in an all-cash offer, and intends to make a public offer for the rest of the shares. A move as bold as a Soviet bureaucrat’s dreams. 🧠💸
- Tether reported net profits exceeding $10 billion this year, while its flagship token USDT is the world’s dominant stablecoin with a $186 billion market capitalization. A dragon’s hoard, if dragons were into fiat. 🐉
Tether, the crypto firm behind the world’s largest stablecoin, USDT, is aiming to acquire popular Italian football club Juventus FC, boosting its minority stake to 100%.
The firm said Friday that it has submitted a binding proposal for majority shareholder Exor’s 65.4% stake in the club in an all-cash offer, according to a Friday blog post. If that deal goes through, Tether intends to make a public tender offer for the club’s remaining shares at the same price. Juventus FC SpA is a publicly-traded company, with a market capitalization of $925 million at Friday’s closing price. A price tag as low as a Soviet-era bread ration. 🥖
Tether said it’s “prepared” to invest $1 billion in the club if the transaction is completed. A sum so large, it could fund a small country’s healthcare system… or a crypto wallet. 💸
“Our interest in Juventus comes from deep admiration and respect,” Tether CEO Paolo Ardoino, a lifelong fan of the team, said in a statement. “Tether is in a position of strong financial health and intends to support Juventus with stable capital and a long horizon.” A statement so earnest, it could make a KGB agent weep. 🥺
The bid comes as Tether is expanding beyond its crypto roots, investing in artificial intelligence, payments, robotics, and even sports. Its flagship token, the $188 billion USDT, is the dominant token in the fast-growing stablecoin sector and increasingly popular as a payments and savings vehicle in emerging countries. A token so dominant, it could power a space colony. 🚀
Tether currently holds a more than 10% stake in Juventus, but expressed its intention earlier this year to seek a more active role in the Torino, Italy-based club. A role as active as a Soviet official’s heartbeat. ⏱️
The fan crypto token of Juventus, dubbed JUV (JUV), surged 30% on the news. A surge so sharp, it could rival a Kafka protagonist’s existential crisis. 📈
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2025-12-13 00:30