Hundreds of proposals are reviewed every month, with a focus on startups. Tether has reported a net profit of $4.52 billion for Q1 2024. The company, known for its USDT stablecoin, has once again grabbed headlines worldwide with its new investment plans in the artificial intelligence and biotech sectors. In a post on June 11th, Tether Holdings Inc., the investment arm of the stablecoin giant, announced its intention to invest over $1 billion in these industries over the next year.
CEO Paolo Ardoino highlighted the company’s recent investments in various industries such as Data, Finance, and Neural Implants, among others. Tether’s investment section is currently overseeing hundreds of proposals each month, mostly from startups, as the company expands its staff to fifteen members. The firm is particularly interested in emerging market alternative financial infrastructure, AI, and biotech.
Ardoino mentioned that Tether has already invested over $2 billion to meet the demands in these areas. Additionally, Tether plans to expand its offerings and venture into infrastructure solutions in the data, banking, power, and education sectors. The company reported a $4.52 billion net profit for Q1 2024.
