Good morning everyone! ποΈ I have some quite important news to share with you today: Tether, the USDT issuer, has reportedly invested around $200 million in Blackrock Neurotech through its Tether Evo division.
Essentially, they aim to become majority shareholders. This investment marks an expansion of Tether's business beyond stablecoins, as part of an expansion plan involving various subsidiaries.
Blackrock Neurotech, a biotechnology company focusing on developing support tools for people with paralysis and neurological disorders, reflects Tether's goal of fostering the intersection between innovation and human potential. π
Tether also reported a record net profit in the fourth quarter of 2023 and aims to rely less on stablecoins, considering future regulatory uncertainties, such as stablecoin legislation in the United States.
β In your opinion, what is the significance of Tether's investment in Blackrock Neurotech for its expansion plan and diversification of business beyond stablecoins? β