Tether to Join Juventus Board
Date: 2025-10-08 Author: Oliver Abernathy Categories: BUSINESS
According to Reuters, Tether, the issuer of the largest stablecoin, USDT, acquired a 10.7% stake in the Turin club this year. This makes the company the second-largest stake holder after Dutch investment firm Exor, which controls 65% of Juventus.
USDT, issued by Tether, is the largest stablecoin with a market capitalization of $177 billion, ranking fifth among cryptocurrencies after Bitcoin, Ethereum, XRP, and BNB. These tokens are pegged to the US dollar and backed by reserves, primarily consisting of US Treasury bonds.
Tether stated that it intends to propose certain changes to the club's governance at the shareholders' meeting. Journalists note that Juventus has been under the control of the Agnelli family, owners of Exor, for over a century.
In September, the board of directors of Juventus, which is operating at a loss, proposed increasing the club's capital by up to €110 million. Exor has already contributed almost €30 million of this amount. Tether representatives stated that they also plan to contribute to the club's financing.
Previously, Tether CEO Paolo Ardoino stated that the company wants to be involved in key decisions regarding the future of Juventus. Despite Tether's willingness to increase its investment, Exor insisted on maintaining a controlling stake. Tensions between the companies were reported to have persisted for several months, and no meetings were held. Ardoino clarified that he buys tickets to the club's matches as an ordinary fan and does not receive any privileges as a shareholder.
Thus, Tether continues to strengthen its influence in the sports industry, seeking to actively participate in the management of one of Europe's largest football clubs while maintaining its commitment to its cryptocurrency projects.
