Tether Ventures Into Media With Strategic Investment in Be Water
By: Isha Das
In a significant expansion of its business interests beyond the realm of financial technology, Tether, a prominent stablecoin issuer, has announced a strategic investment into Italy's media landscape. On March 27, Tether disclosed its acquisition of a 30.4% stake in Be Water, an Italian media firm renowned for producing and distributing film, television, audio, and live content. This investment embodies Tether's commitment to fostering digital content creation and supporting independent journalism through technology-driven innovation.
This ambitious move has seen Tether commit €10 million ($10.8 million) in capital, which aims to bolster Be Water's international expansion efforts and enhance its digital infrastructure with cutting-edge blockchain and technological tools. The partnership is set to augment Be Water's capacity to distribute independent content across global platforms, maintaining its editorial independence in an industry often pressured by commercial narratives. This aligns with Tether's broader strategy to maintain creative freedom in media ventures, as emphasized by Tether CEO Paolo Ardoino.
Ardoino remarked on the importance of preserving editorial independence, raising awareness of how media entities can often be swayed by commercial narratives to survive. The injection of investment by Tether ensures Be Water can venture forward as a solid and independent media entity, free from such pressures. Despite changes in ownership structure, with figures like Guido Maria Brera, Giancarlo Devasini, and Ardoino himself joining the shareholder list, Be Water is committed to maintaining its integrity and vision.
The investment coincides with a major developmental agenda by Be Water, including enhancements in its investigative journalism arms, expansion of partnerships with international film production talents, and the roll-out of sophisticated digital infrastructure. This alliance is seen as part of Tether's growing investment portfolio, which also encompasses ventures in biotech, sports, and digital video platforms. With USDT reaching 400 million users globally and holding a market cap surpassing $140 billion, Tether's influence in both finance and media sectors continues to grow, reinforcing its mission to facilitate technology-driven innovation globally.
