The main Stablecoin transmitter, Tether, has invested 10 million euros ($ 10.8 million) in the Italian media company Be Water.
According to an announcement of March 27, Tether acquired a 30.4% participation in Media Water, based in Rome. Tether CEO Paolo Ardoino said that the company recognized “the importance of independent media in the training of enlightened companies”.
“Our investment in Be Water is aligned with our vision of supporting technology -oriented innovation in industries,” added Ardoino.
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According to his LinkedIn page, Be Water is an Italian producer and a distributor of films, documentaries and series that approach modern social problems as well as journalism.
The executive president of the company, Guido Maria Brera, said that the company’s objective was to be “capable of producing and distributing content on several platforms – Podcasting, Cinema, Television and Live – with a strong, diverse and independent voice.” He added:
“With the entry of Tether and the technological expertise of Paolo Ardodino, we have the possibility of accelerating our growth and expanding our scope in Italy and in the world.”
Source: Paolo Ardoino
Important changes to be water
Following the agreement, the BE Water board of directors will be restructured to include Ardoino and the head of the Tether Claudia Lagorio. The company plans to use capital to upgrade its digital infrastructure and extend its content production and distribution capacities.
The company will also expand the investigations of investigation journalism of the Italian podcast platform Chora Media and Social Media News Organization Will Media.
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Tether continues to invest
According to his announcement, Tether saw profits greater than $ 13 billion in 2024, with his American treasury holding companies exceeding $ 113 billion, fueling the company’s current investment collection.
In February, Tether acquired a majority participation in Juventus FC, a large a football series based in Turin, Italy. During the same month, the operator of Stablecoin sought to acquire a majority participation in the South American agro-industry firm Adecoagro.
Some of these investments have already started to bear fruit. Rumble, the video platform in which Tether has invested $ 775 million at the end of 2024, recently announced the launch of its portfolio for content creator payments with the support of the Stablecoin de Tether de Tether (USDT).
Tether and Paolo Ardoino had not responded to Cointelegraph’s request in publication.
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