Tether, the world’s largest stable-coin provider, has announced it acquired a stake in the Italian football club Juventus FC. Juventus is the most successful Italian football club ion history in terms league wins and was founded in 1897 and it is based in Turin. The Agnelli family hold a 64% stake in the club through their company Exor.
Tether which can not be provided in Europe by crypto-exchanges because it does not confirm with MICA regulations, did not announce the amount of shares it owns in Juventus FC. Tether was founded by Italian businessman and ex-surgeon Giancarlo Devasini but is today run by Paolo Ardoino, a software developer who hails from Genoa.
The announcement brought some relief for holders of the Juventus crypto token, which is one of the many football tokens launched by Chiliz that is now more than 90% down from its highs. Shareholders also got some relief but are also down from the stock’s highs.
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