Tether invested $200 million in biotech company Blackrock Neurotech

• Tether invested $200 million in biotechnology company Blackrock Neurotech.
• Now she is the main shareholder of the company.

Tether, the issuer of the USDT stablecoin, has invested $200 million in biotech firm Blackrock Neurotech, which develops brain-based medical devices aimed at helping people suffering from paralysis and neurological disorders.

The company is known to have invested through its venture arm Tether Evo. The new capital is being used to create and commercialize medical devices, as well as new research and development.

What is the USDT stablecoin from Tether and why is it needed?

08/09/2023

26 min

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Tether CEO Paolo Ardoino said that the USDT stablecoin was not used for investments. Financing was carried out from the company’s profits in 2023.

Please note that Blackrock Neurotech is not affiliated with the investment firm Blackrock.

We previously reported that Tether would be restructuring as part of a new concept of moving beyond stablecoins.