Born in 2014 and exploded during the 2020 pandemic, tying its value to the US dollar, Tether offers less volatility than Bitcoin or Ethereum, the other best-known cryptocurrencies. A company with an expansionist policy that reaches… all the way to the ball
Make Juventus great again. With this slogan – let’s make Juventus great again – Paolo Ardoino is gaining more and more admirers among the Lady’s fans month after month. The computer scientist is the CEO of Tether and in fact the communication “frontman” of the cryptocurrency giant when it comes to putting his face on corporate moves, including those relating to Juventus. A Juventus fan, it is in him that a part of the Juventus people recognize the name of Tether even though the cryptocurrency was launched by Giancarlo Devasini, a doctor-surgeon decidedly less traceable than Ardoino who over the years has made his way in the world of information technology first and then of digital currencies.
The coin
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Tether was born in 2014, but – like many other cryptocurrencies – it has experienced uneven growth over the years. As Ardoino himself has said several times, in fact, an important boost to the stablecoin was indirectly caused by the Covid pandemic of 2020 when, for example, Bitcoin had already been on the pages of newspapers for some time due to its boom and first contractions. Here, the real difference of Tether lies in the lower volatility compared to Bitcoin or Ethereum – the other two best-known cryptocurrencies – and, therefore, in the lower appeal in terms of speculation. Since the value of Tether is linked to the US dollar, users of the digital currency launched by Devasini are users who appreciate it for its solidity and not for the hope of earning from market fluctuations. To put it simply, Tether has based its fortune on its effectiveness in supporting international transactions without the support – and therefore the costs – of various intermediaries such as banking institutions.
Without limits
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Tether’s success in terms of use now has few equals and it is thanks to the enormous economic firepower that its leaders can make a takeover of a top-tier football club like Juventus credible. The company is based in the Caribbean state of El Salvador and reported profits of more than 13 billion euros in 2024. Tether’s main field obviously remains that of cryptocurrencies, blockchains and in general technological innovation which ranges from artificial intelligence to the very new frontiers of information technology applied to the most disparate fields, but the giant’s expansionist policy does not seem to set any boundaries. As is logical, for example, the offer to Exor for the purchase of Juventus shares was made by “Tether Investments”, a company entirely controlled by the Tether holding company dedicated precisely to this type of operation.
Two speeds
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The relationship between Tether and Exor has never been particularly close-knit and the cryptocurrency giant tried multiple avenues before this sudden offer. At times the official statements – and Ardoino’s tweets – had the intention of seeking collaboration from the majority shareholder in order to give a boost to the club in a difficult phase (hence the slogan “Make Juventus Great Again”), but in other cases the CEO did not save himself from criticism both for matters on the pitch and for the door he never found open from John Elkann. Of course, the 11.5% of the company shares have nevertheless guaranteed Tether a presence on the board of directors of Juventus in the person of Francesco Garino, but so far no great optimism about mutual relations has ever transpired from the corridors of the two entities. From this point of view, the official offer, flaunted on social networks, will certainly not have pleased Exor who had already leaked earlier today his intention not to sell the club even to any candidates potentially arriving from the Middle East. Tether’s climb, however, does not seem to stop: from the cryptocurrency to the investment in Juventus the step seems only to be that of convincing the majority shareholder to move on to cashing in. Mission, for now, impossible.
