Major stablecoin issuer, Tether, invested 10 million euros ($10.8 million) in Italian media company Be Water.
According to a March 27 announcement, Tether acquired a 30.4% stake in Rome-based Media Water. Tether CEO Paolo Ardoino said the company recognized “the importance of independent media in shaping informed societies.”
“Our investment in Be Water aligns with our vision to support technology-driven innovation across industries,” Ardoino added.
Related: Tether seeks Big Four firm for its first full financial audit — Report
According to its LinkedIn page, Be Water is an Italian producer and distributor of films, documentaries and series that address modern social issues as well as journalism.
The company’s executive chairman, Guido Maria Brera, said that the firm’s objective is to be “capable of producing and distributing content across multiple platforms — podcasting, film, television and live events — with a strong, diverse and independent voice.” He added:
“With Tether’s entry and the technological expertise of Paolo Ardoino, we have the opportunity to accelerate our growth and expand our reach both in Italy and globally.”
Source: Paolo Ardoino
Significant changes for Be Water
Following the deal, Be Water’s board of directors will be restructured to include Ardoino and Tether chief operating officer Claudia Lagorio. The company plans to use the capital to upgrade its digital infrastructure and expand its content production and distribution capabilities.
The company will also expand the investigative journalism departments of the Italian podcast platform Chora Media and social media news organization Will Media.
Related: Tether’s US treasury holdings surpass Canada, Taiwan, and ranks 7th globally
Tether keeps investing
According to its announcement, Tether saw profits exceeding $13 billion in 2024, with its US Treasury holdings surpassing $113 billion, fueling the firm’s ongoing investment drive.
In February, Tether acquired a majority stake in Juventus FC, a major Series A football club based in Turin, Italy. During the same month, the stablecoin operator sought to acquire a majority stake in South American agribusiness firm Adecoagro.
Some of those investments have already started paying off. Rumble, the video platform in which Tether invested $775 million in late 2024, recently announced the launch of its wallet for content creator payments with support for Tether’s USDt (USDT) stablecoin.
Tether and Paolo Ardoino had not responded to Cointelegraph’s inquiry by publication time.
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