Tether, one of the world's largest crypto firms, said Friday it wants to buy the famous Italian football club Juventus.
“For me, Juventus has always been part of my life,” Tether CEO Paolo Ardoino said in a statement. “I grew up with this team. As a boy, I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity."
While Tether has made many investments with the billions of dollars of profit it has made from issuing USDT, this could rank as the highest-profile move in the organization's history. The company has invested in artificial intelligence and gold, among other things.
The stablecoin issuer has submitted a bid to acquire Exor's entire stake in the football club, subject to regulatory approvals. Exor is a publicly listed holding company for the Agnelli family, scions of the Fiat automobile empire, and the long-time controlling owner of Juventus.
"In the event that the transaction completes, Tether is prepared to invest 1 billion Euros in the support and development of the club," the company added.
Tether is already a minority shareholder in Juventus.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.