Tether Invests $200M in Blackrock Neurotech, Becomes Majority Stakeholder

Apr 29, 2024, 02:56 PM

Tether, the issuer of the largest stablecoin, has invested $200 million in Blackrock Neurotech, a company specializing in brain-computer interface (BCI) technology. This investment, made through Tether's newly established venture division Tether Evo, has made Tether the majority stakeholder in the biotech firm. The investment aims to advance medical solutions for paralysis and neurological disorders. Tether's CEO, Paolo Ardoino, emphasized that the investment funds were sourced from company profits, not from stablecoin reserves.