Tether Secures 30% Ownership in Italian Media Company Be Water
Tether, the issuer of the USDT stablecoin, has acquired a 30% stake in the Rome-based media company Be Water for around €10M ($10.8M). The deal marks Tether’s move into the media sector.
In a press release, the company stated that the acquisition is expected to be finalized by the end of March 2025.
Be Water is the parent company of several high-profile content creators and production entities, including Chora Media and Be Water Film specializing in film production and distribution.
Tether’s Cross-Industry Portfolio Expansion
The Tether Be Water investment becomes the latest in Tether’s growing list of acquisitions. Earlier this month, the company increased its stake in the U.S.-based Bitcoin mining company Bitdeer to 21%. Tether is also a minority stakeholder in the football club Juventus, as part of its goal to integrate stablecoins into different industries and everyday life.
Another company in Tether’s diversified portfolio is the Canadian video-hosting platform Rumble. In December 2024, Tether announced a $775 million investment in the platform to support free speech.
Tether CEO Paolo Ardoino said the collaboration with Rumble shows Tether’s commitment to supporting technologies that challenge centralized systems and promote freedom.
Based on CryptoRank, Tether Holdings’ portfolio is mainly focused on payments, mining solutions, and mobile and wallet development.
Tether’s Position in the Crypto Market
Founded in 2014, Tether remains a dominant force in crypto, primarily through its flagship dollar-pegged stablecoin, USDT. With a market capitalization of over $144 billion, USDT is the largest stablecoin and the third-largest cryptocurrency overall.
In 2024, Tether’s profits hit $13 billion, with its US Treasury holdings surpassing $113 billion.
Tether’s owner, Giancarlo Devasini – who is estimated to hold a 47% stake in the company – is now among the five richest people in Italy.
The company’s expanding investment activity – ranging from media and social platforms to mining and infrastructure – signals a broader ambition to shape the future of digital finance and adjacent industries.
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