About two weeks after reports suggested that StableCoin Issuer Tether would be pitching its own names to fill the board for Italian football club Juventus, the company announced two picks: its own deputy chief investment officer and a medical doctor.
In a notice on Thursday, Tether said It appointed the Deputy CIO, Zachary Lyons, and an Orthodontist and “Lifelong Juventus Supporter,” Francesco Garino, to the board of directors of the football club. The StableCoin Company holds a 10.7% stake in Juventus after investing in February and April.
“Since announcing our investment in the club, Tether has listened carefully to the voices of fans from Italy and around the world, receiving invaluable suggestions, comments and calls for deeper engagement,” Tether said in the announcement.
“We made proposals to vote in the Assembly to make some changes in the laws and adopt the best corporate governance and representation of minors.”
As part of the announcement, Tether CEO Paolo Ardoino rewritten A call to “Make Juventus Again,” a reference to President Donald Trump’s campaign slogan. The CEO visited the White House in July to attend the Genius StableCoin Bill Signing Ceremony.
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The Board’s nominations, expected to be decided at a November 7 shareholder meeting, follow controversial moves and scandals from the football club’s leadership.
In November 2022, all members of the Board resigned Amid allegations of financial fraud involving players’ salaries. In September, former chairman of the Juventus Board Andrea Agnelli and two other Juventus executives accepted a deal with Italian authorities to serve suspended sentences.
Tether’s investments go beyond football
Also the StableCoin Company invested $ 775 million On video sharing platform Rumble. In August, the two companies proposed joint acquisition All the shares of the Artificial Intelligence Infrastructure Company Northern Data, worth $ 1.17 billion.
https://www.youtube.com/watch?v=ziirhv3cbog
Despite being a StableCoin company, Tether also holds a significant amount of bitcoin (BTC). Until September, this held nearly 100,000 BTCworth more than $11 billion at the time of publication. Tether’s USDT (USDT) had a market capitalization of more than $181 billion as of Thursday.
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