Leading stablecoin provider Tether has made a 10 million euro ($10.8 million) investment in the Italian media company Be Water.
In a statement released on March 27, it was revealed that Tether acquired a 30.4% ownership share in the Rome-based Be Water. CEO Paolo Ardoino highlighted the company’s recognition of “the vital role that independent media plays in fostering informed societies.”
He added, “Our investment in Be Water reflects our commitment to fostering tech-driven innovation across various sectors.”
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According to their LinkedIn profile, Be Water is an Italian producer and distributor focusing on films, documentaries, and series that tackle contemporary social issues as well as journalistic content.
Guido Maria Brera, the company’s executive chairman, expressed that their aim is to become “capable of producing and distributing content across a variety of platforms — including podcasts, films, television, and live events — while maintaining a strong, diverse, and independent voice.” He further stated:
“With Tether’s involvement and Paolo Ardoino’s technological expertise, we have the chance to accelerate our growth and broaden our presence, both within Italy and internationally.”
Image Credit: Paolo Ardoino
Transformative changes for Be Water
As a result of the partnership, Be Water’s board will undergo restructuring to include Ardoino and Tether’s chief operating officer, Claudia Lagorio. The firm intends to utilize the investment to enhance its digital infrastructure and expand its content production and distribution capabilities.
Additionally, it plans to bolster the investigative journalism divisions of the Italian podcast platform Chora Media and the social media news outlet Will Media.
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Tether continues to invest
The announcement noted that Tether experienced profits exceeding $13 billion in 2024, with its US Treasury holdings surpassing $113 billion, driving the company’s ongoing investment initiatives.
In February, Tether acquired a majority interest in Juventus FC, a prominent Serie A football club based in Turin, Italy. The company also sought a controlling stake in Adecoagro, a South American agribusiness firm, during the same month.
Several of these investments have already begun to yield returns. Rumble, the video platform in which Tether invested $775 million in late 2024, recently introduced its wallet for content creator payments, supporting Tether’s USDt (USDT) stablecoin.
As of the time of publication, Tether and Paolo Ardoino had not responded to inquiries.
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