See original
LIVE
MarsNext
--
Bullish
🚀🚀🚀Tether's Major Move: Acquires Majority Stake in Blackrock Neurotech
Tether, a prominent cryptocurrency company, has announced a significant investment of $200 million in Blackrock Neurotech, a leading U.S.-based brain implant company. This investment grants Tether a majority stake in Blackrock Neurotech, marking a strategic move into the field of brain-to-computer interfaces.
Blackrock Neurotech specializes in developing neural implants that enable individuals to control computers and prosthetic arms through brain signals, without the need for physical movement. It's important to note that Blackrock Neurotech is unrelated to the asset management firm BlackRock.
The deal, which underwent several months of due diligence and closed on Friday, values Blackrock Neurotech at approximately $350 million. With this investment, Tether becomes the largest shareholder in the company, according to Tether CEO Paolo Ardoino.
The $200 million infusion from Tether will primarily support the commercialization and deployment of Blackrock Neurotech's cutting-edge technology, which has already been successfully utilized by over 40 individuals.
In recent years, there has been growing interest in brain implants, with various companies, including Elon Musk's Neuralink, conducting human trials.
Tether, known for issuing a dollar-pegged cryptocurrency, has experienced significant growth in recent years, reaching $100 billion in circulation by March. The company asserts that its tokens are backed by dollar-denominated reserves.
With approximately $1.7 billion in venture capital investments to date, Tether has strategically diversified its portfolio across sectors such as sustainable energy, artificial intelligence, and peer-to-peer technology. The investment arm responsible for the Blackrock Neurotech deal, known as "Tether Evo," aims to advance humanity by merging technology with human capabilities in unprecedented ways.
Blackrock Neurotech has not yet responded to inquiries regarding the investment deal.
(Reporting by Elizabeth Howcroft; Editing by Michael Erman)
Tether, a prominent cryptocurrency company, has announced a significant investment of $200 million in Blackrock Neurotech, a leading U.S.-based brain implant company. This investment grants Tether a majority stake in Blackrock Neurotech, marking a strategic move into the field of brain-to-computer interfaces.
Blackrock Neurotech specializes in developing neural implants that enable individuals to control computers and prosthetic arms through brain signals, without the need for physical movement. It's important to note that Blackrock Neurotech is unrelated to the asset management firm BlackRock.
The deal, which underwent several months of due diligence and closed on Friday, values Blackrock Neurotech at approximately $350 million. With this investment, Tether becomes the largest shareholder in the company, according to Tether CEO Paolo Ardoino.
The $200 million infusion from Tether will primarily support the commercialization and deployment of Blackrock Neurotech's cutting-edge technology, which has already been successfully utilized by over 40 individuals.
In recent years, there has been growing interest in brain implants, with various companies, including Elon Musk's Neuralink, conducting human trials.
Tether, known for issuing a dollar-pegged cryptocurrency, has experienced significant growth in recent years, reaching $100 billion in circulation by March. The company asserts that its tokens are backed by dollar-denominated reserves.
With approximately $1.7 billion in venture capital investments to date, Tether has strategically diversified its portfolio across sectors such as sustainable energy, artificial intelligence, and peer-to-peer technology. The investment arm responsible for the Blackrock Neurotech deal, known as "Tether Evo," aims to advance humanity by merging technology with human capabilities in unprecedented ways.
Blackrock Neurotech has not yet responded to inquiries regarding the investment deal.
(Reporting by Elizabeth Howcroft; Editing by Michael Erman)
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
Replies 0
