Tether’s Strategic Investment in Italian Media: A New Chapter Beyond Fintech
In a significant development that signifies its diversification beyond financial technology, Tether, the issuer of the USDT stablecoin, has announced a €10 million investment in Be Water, an Italian media firm. This strategic partnership, revealed on March 27, 2023, will see Tether acquiring a 30.4% equity stake in Be Water by the end of the month. This bold move is not just a financial investment; it represents Tether’s commitment to harnessing innovative technologies to contribute to the media landscape. By leveraging blockchain and advanced technology tools, Tether aims to enhance Be Water’s capabilities in distributing independent content on a global scale, thereby revolutionizing media access and delivery.
Be Water has established itself as a notable player in the media sector, focusing on producing and distributing diverse content across film, television, audio, and live formats. With Tether’s investment, the firm is expected to accelerate its international outreach, further solidifying its ability to share independent narratives worldwide. The collaboration has great potential; as independent media continues to thrive in the digital era, the partnership promises to foster an environment where creativity and innovation can flourish without the constraints of commercial pressures.
Tether’s CEO, Paolo Ardoino, has underscored the critical importance of maintaining editorial independence in media. He emphasized that the capital influx would enable Be Water to resist market pressures that often compromise the creative integrity of media organizations. Ardoino stated, “While often media companies are bullied into kneeling to sponsored narratives simply to survive, Tether’s investment in Be Water ensures that the group will continue to remain solid, visionary, and especially independent.” This declaration positions Tether as a defender of creative freedom in an industry frequently influenced by external financial forces.
However, with Tether’s entry into Be Water, there are notable shifts occurring within the media company’s ownership structure. The new shareholder list comprises key figures from Tether, including Ardoino himself, along with seasoned industry professionals. This mix suggests a strategic blend of technological foresight and media expertise aimed at propelling Be Water to new heights. Furthermore, important changes to the board of directors are underway, with Guido Maria Brera taking the role of Chairman and Barbara Salabè stepping in as CEO. This restructuring signifies a focused approach to achieving Be Water’s ambitious plans, which include investing in next-gen digital infrastructure and expanding investigative journalism initiatives.
In addition to enhancing its operational capabilities, Be Water is strategizing significant projects aimed at bolstering its content offerings. The company plans to invest in two investigative journalism arms, known as Chora and Will, which will focus on producing impactful stories that resonate with global audiences. Moreover, Be Water aims to forge partnerships with international talents in film, television, and documentary production, thereby expanding its creative horizons. These initiatives are poised to disrupt conventional media models, further establishing Be Water’s brand as a pioneer in independent content creation.
As Tether diversifies its investments, it is crucial to highlight the enduring strength of its core business. The USDT stablecoin continues to thrive, recently surpassing 400 million users globally, making it the largest stablecoin in the industry with a market capitalization exceeding $140 billion. Ardoino emphasized the grassroots adoption of USDT, portraying it as a solution designed to address the financial gaps left by traditional banking systems. He remarked, “We always focused on the adoption from the ground up, working in the streets, among other people, while traditional finance was watching us from their ivory towers.” This user-centric approach has cemented USDT’s position as a versatile digital asset, catering to a broad demographic of users seeking alternatives to conventional financial solutions.
In conclusion, Tether’s investment in Be Water signifies a bold leap into the media landscape, highlighting a commitment to fostering independent content creation while leveraging innovative technological solutions. This partnership not only underscores the importance of editorial independence but also positions both entities for continued growth Amidst an evolving digital media environment. As both Tether and Be Water embark on this journey together, they are poised to redefine the intersection between technology and media, crafting a future that champions creative freedom and accessibility in a rapidly changing world.