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Here’s a timeline of Tether’s latest investments
The largest stablecoin issuing company, Tether, has recently made numerous investments in emerging crypto and artificial intelligence companies. These investments and the company’s progress beyond stablecoins show that the entity is interested in expanding its operations.
Over the past few months, Tether has dived its foothold in other sectors like peer-to-peer communication, Bitcoin mining, renewable energy and artificial intelligence.
Tether’s latest investments
XREX Group is the latest company Tether has invested in. Earlier this week, stablecoin issuer announcement that it had strategically injected $18.75 million into the blockchain-based financial institution to drive innovation and facilitate cross-border settlements via its flagship stablecoin, USDT, for emerging markets.
Funding Tether will enable XREX to revolutionize financial transactions in emerging markets by providing businesses with ease, efficiency and lower costs. Additionally, XREX will collaborate with the Unitas Foundation to launch XAU1, a unitized USD-pegged stablecoin overbooked with Tether Gold (XAUt).
Commenting on the deal, Paolo Ardoino, CEO of Tether, said: “Tether’s strategic investment in the XREX Group demonstrates our unwavering commitment to driving financial inclusion in emerging markets. This latest investment aligns with Tether’s long-term vision of building resilient infrastructure that extends beyond the confines of the crypto market, as demonstrated by our diversified investments across various industry sectors.
More than a week ago, Tether between a $150 million private placement financing deal with blockchain and high-performance computing company Bitdeer. The deal gave Tether a private placement of 18,587,360 shares of Bitdeer’s Class A common stock and a warrant to purchase up to 5,000,000 additional shares at $10 each.
Gross proceeds from the offering generated $100 million, and Tether could provide an additional $50 million if Bitdeer fully exercises the warrant.
Investing profits in AI
CryptoPotato reported In April, Tether became a major shareholder in Brain-Computer Interface (BCI) technology platform Blackrock Neurotech after investing $200 million in the company. Notably, the company has also ventured into some AI-related companies and has been on the attention looking for relevant talent to add to its AI team.
Tether’s latest actions align with Ardoino’s remarks during a recent interview with CryptoPotato at the Token2049 Dubai 2024 conference. He said the industry may soon witness a trend in AI-related investments. The CEO also emphasized that Tether only invests its profits in AI projects.