Tether is not only expanding its presence in the crypto market but has also continued to increase its investment in other corporate sectors by buying stakes in some of the companies. In a most recent development, Tether has announced to boost its holding in Adecoagro SA.
According to a press release of Adecoagro SA, the company has received a proposal from Tether to boost its stakes in Adecoagro, before this investment in the company, the company already held 19.4% of stakes.
It is worth noting that with this move, Tether will become a majority stake 51% in Adecoagro, yet the final decision of the board of directors is still awaited. The company is reviewing the offer of Tether and did not want to immediately decide what to do.
Crypto companies boosting investment in traditional industries
Tether has invested in several sectors, including AI, education, telecommunication, and renewable energy. Most recently, Tether announced that it has bought the majority of stakes in Juventus, it is also a lead investor in Sorted Wallet, Rumble, and Bitdeer Technologies.
Most recently, it has been reported that Tether and its closest competitor, USDC, have minted millions of coins on different chains. Over time, a change in the usage of blockchain-based products has been seen, with stablecoins topping the list, followed by memecoin and altcoin.
Several other centralized and decentralized exchanges have been raising their investment in traditional industries such as sports, education, solar, and renewable energies.
In the crypto market, there are thousands of stablecoins, but in terms of trading volume and market cap, USDT is at the top, followed by USDC and DAI, including several others.
Market other news updates
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Before the launch of PI mainnet, there were many claims that reportedly pulled the PI coin price in the unregistered market; yet in the primary market, there are claims that the PI coin might hit $500 after its launch.
Mantra has secured VARA to operate in the UAE when writing, Mantra (OM) was trading at $7.53 with a growth of 1.75 percent in the past 24 hours. At the same time, its market capitalization reached $7.32 billion, and its volume was $377.33 million.
A Japanese company, Metaplanet, has boosted its Bitcoin holding now it holds more than 2k BTC, yet the company’s stock has mirrored a slight decline in the past 48 hours. Until publishing, BTC was trading below $96k, but at the same time, it was above its 20, 50, 100, and 200-day EMA.
