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The Biggest of the Cryptos Italian Dev Invested: Fan Token Prices Went Crazy! - Coin Bulletin
After Tether's investment in Juventus FC, there have been sharp increases in the prices of many fan tokens, including Juventus' fan token JUV.
This development, which has caused a great stir in the cryptocurrency market, was announced by Tether Investments. The largest stablecoin company in the cryptocurrency market reported that it has acquired a minority stake in Juventus FC, one of Italy's long-established football clubs. With this move, it is seen that Tether has taken a strong step into the traditional sports world with its $140 billion stablecoin USDT.
JUV increased by 183 percent
Following the investment news, the Juventus Fan Token (JUV)** increased by 183.4%, from $1.05 to $2.99. With this move, which created a ripple effect in the market, other fan tokens also recorded remarkable gains:
Tether CEO Paolo Ardoino stated that the investment will not be limited to sports alone and that they aim to combine digital assets with traditional industries. Such corporate moves in the fan token market are considered to attract more investor interest in the future.
After earning 13 billion dollars last year, Tether went beyond the stablecoin business and started investing in artificial intelligence, payment, and energy companies.
This investment is considered an important part of Tether's long-term strategic vision. The company**, with its USDT s**tablecoin reaching a market value of 140 billion dollars, is a leader in the digital asset sector. With the new investment, it aims to bring this success to the traditional sports industry.
Moreover, it is stated that Tether's investments in the sports sector will not be limited to Juventus only, and there are plans to develop new partnerships and projects on a global scale. This move by Tether could pave the way for a more effective use of blockchain technology in the sports world.