Stablecoin giant Tether has expanded its influence in the sports world by securing a minority stake in Juventus FC, one of Italy’s most historic football clubs. Founded over 125 years ago in Turin, Juventus remains a dominant force in Serie A.
Announced on Feb. 14, the investment aligns with Tether’s mission to bring stablecoins, digital assets, and innovative technology into mainstream use. While financial details were not disclosed, the company emphasized its commitment to making “strategic investments” in global sports franchises to promote digital payments and crypto adoption.
According to Forbes, Juventus ranks as the 11th most valuable football club globally, worth approximately $2.05 billion. The club’s reported revenue as of May 2024 stood at $459 million.
Tether’s move comes on the heels of a record-breaking year, with the stablecoin issuer posting $13 billion in profits for 2024. The company’s holdings in U.S. Treasury bonds also hit an all-time high of $113 billion.
Tether’s flagship stablecoin, USDT, remains the most widely used in the market, boasting a circulation exceeding $140 billion.
Crypto Sports Partnerships on the Rise
The crypto industry has been aggressively expanding into sports, with blockchain companies investing billions to boost mainstream adoption. Data from CoinGecko shows that 2024 saw 26 new crypto sports sponsorships, bringing the total number of such deals between 2021 and 2024 to 92.
Crypto exchanges have been among the most active sponsors in sports. Just this week, Gate.io announced a collaboration with Red Bull’s Formula 1 team to integrate blockchain technology into motorsports.
In November, Crypto.com made headlines by sponsoring a golf tournament where winners were paid entirely in digital assets. Earlier in the year, the platform also secured an exclusive partnership with the UEFA Champions League.
Meanwhile, in the United States, Coinbase has been making moves in the sports world following the FTX collapse. In October, the exchange inked a deal with the NBA’s Golden State Warriors, signaling a renewed push into mainstream sponsorships.
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
