The stablecoin issuer is making strides beyond the realm of financial technology with a new investment in Italy’s media sector.
On March 27, the company disclosed a €10 million investment in Be Water, an Italian media organization. By the end of the month, it will hold a 30.4% equity stake in the firm as part of this agreement.
Be Water specializes in the creation and dissemination of film, television, audio, and live content. This investment seeks to bolster its international growth and enhance its digital foundation using blockchain and advanced technology.
The collaboration is also anticipated to improve the company’s capacity to circulate independent content across various global platforms.
With this latest initiative, the company’s investment portfolio is diversifying to include media, biotech, sports, and video services. Previous investments encompass $775 million in Rumble, a share in Juventus Football Club, and a $200 million stake in BlackRock Neurotech, which is working on brain-computer interface technology.
Independent Media
The CEO emphasized the need for maintaining editorial independence with this investment. He expressed that it would enable Be Water to resist commercial pressures and uphold its creative freedom.
He remarked:
“While many media companies often succumb to sponsored narratives just to survive, our investment in Be Water guarantees that the organization remains strong, visionary, and importantly, independent.”
Nevertheless, the investment has altered Be Water’s ownership structure. The updated list of shareholders now features industry figures like Guido Maria Brera, Giancarlo Devasini, and the CEO, alongside other professionals including Mario Calabresi, Roberto Condulmari, Saverio Costanzo, and Barbara Salabè.
Changes are also occurring on Be Water’s board, with Brera appointed as Chairman and Salabè stepping in as CEO. Additional board members include Claudia Lagorio, the COO, and Sabrina Giovannetti, the CFO.
Simultaneously, Be Water is commencing a significant development strategy. This plan includes investment in next-generation digital infrastructure, enhancing its investigative journalism initiatives, Chora and Will, and collaborating with international talent in film, television, and documentaries.
USDT Surpasses 400 Million Users
As it explores new sectors, the firm’s primary business remains robust.
In a post on social media, the CEO noted that the USDT stablecoin has recently exceeded 400 million users globally, maintaining its position as the largest in the sector, with a market capitalization surpassing $140 billion.
He described USDT as a grassroots solution to financial challenges where traditional systems fall short.
According to him:
“Our focus has always been on grassroots adoption, engaging directly with people, while conventional finance looked down on us from their ivory towers.”
Notable Mentions
