What happened?
Stablecoin issuer Tether has made a strategic investment in Italy’s Juventus Football Club. The company’s CEO, Paolo Ardoino, stated on X: “Let Juventus be great again!”
Tether’s investment in Juventus aligns with the company’s goal of integrating stablecoins and digital assets into everyday life. Furthermore, Tether has indicated that it is pursuing strategic investments in global sports teams.
In addition to Tether, other cryptocurrency companies 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 Italy’s Juventus 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 the history of 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 released on February 14, Tether stated that this investment aligns with the company’s goal of “integrating stablecoins, digital assets, and human-centered technology into everyday life.” Additionally, Tether CEO Paolo Ardoino wrote on X: “Let Juventus be great again!”
While the investment amount has not been disclosed, Tether emphasized that the company is pursuing “strategic investments in global sports teams,” hoping that these collaborations will promote the adoption of digital assets and payment technologies. According to a report from CryptoSlate, Tether’s investment division operates independently, thus not utilizing USDT stablecoin reserves. Furthermore, the company is organizing an expert advisory team to explore how blockchain technology can be applied to team management, fan engagement, and payment systems.
Cryptocurrency Companies Actively Invest in the Sports Industry
In recent years, cryptocurrency companies have been actively investing in the sports industry, aiming to enhance the mainstream recognition of digital assets. According to CoinGecko statistics, there were 26 collaborations related to sports and cryptocurrency in 2024, with a total of 92 from 2021 to 2024.
In addition to Tether, other cryptocurrency companies are also making significant moves in the sports market. For example, the exchange Gate.io recently announced a partnership with the Red Bull F1 team to integrate blockchain technology into motorsports, while the exchange Crypto.com sponsored a golf tournament that offered prizes payable in digital assets and signed an exclusive cooperation agreement with the UEFA Champions League.
Moreover, 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 crypto assets into the global sports industry but also enhances the brand’s visibility beyond the Web3 realm, further educating the public about the applications of stablecoins and digital assets.
Source: CryptoSlate, Cointelegraph