A reliable insider has indicated that Tether is preparing to acquire a 30% interest in the Italian media organization, Be Water. With a market capitalization exceeding $144 billion, this stablecoin provider is diversifying its assets beyond the cryptocurrency sector.
As reported by a recent article, an individual familiar with the situation has disclosed that the stablecoin operator is set to buy a 30% stake in Be Water. However, the announcement of the deal is still pending, and the source chose to remain anonymous until the agreement is made official. Neither Tether’s representative nor anyone from Be Water has responded to inquiries about the arrangement.
Established in 2021 by financier and author Guido Brera, Be Water operates out of Rome, Italy, and serves as the parent company of the podcast production firm Chora Media and the Instagram-based content creator Will Media, in addition to running the distribution and production company Be Water Film.
Be Water made its debut at last year’s Cannes Film Festival and has collaborated with notable figures in the Italian film industry, including screenwriter Stefano Bises and actor Alessandro Borghi.
If this acquisition goes through, it will mark Tether’s latest foray into the multimedia space, following its $775 million investment in the video-sharing platform Rumble in December 2024. Recently, the stablecoin company has also agreed to assist Rumble in developing a digital wallet to support content creators.
Beyond multimedia ventures, Tether’s investment strategy encompasses a wide array of sectors, including Bitcoin (BTC) mining and commodity trading. Currently, the market cap for USDT is over $144 billion, with a daily trading volume reported at $23.8 billion, based on data from crypto.news.
Last month, insiders indicated that Tether is considering channeling its $7 billion in excess reserves into additional investments outside of the cryptocurrency industry.