Tether Invests $200M in Neurotech, Becomes Major Stakeholder
In A Nutshell
Tether, the entity behind the world’s leading stablecoin USDT, has made a significant strategic investment of $200 million in Blackrock Neurotech through its new division, Tether Evo. This move not only marks Tether’s venture into the neurotechnology field but also positions it as a majority stakeholder in a pioneer company dedicated to advancing brain-computer interface (BCI) technology. Blackrock Neurotech, established in 2008, is at the forefront of developing BCIs that aid individuals with severe neurological conditions in regaining lost functions through thought-powered technology.
Tether’s Vision Meets Neurotechnology
The investment by Tether through its Tether Evo division underscores a broader vision of merging human potential with cutting-edge technology. Blackrock Neurotech has made significant strides in the neurotech space, offering hope to millions affected by paralysis and other debilitating conditions through its revolutionary BCI technology. The company has demonstrated the profound impact of its inventions in several instances, notably when Nathan Copeland used a Blackrock BCI to control a robotic arm and interact with former U.S. President Barack Obama.
The Impact of the Investment
Tether’s injection of $200 million into Blackrock Neurotech is aimed at accelerating the commercialization of BCI technology and enhancing research and development efforts. This investment is expected to solidify Blackrock Neurotech’s position as a leader in the BCI industry and further the development of technologies that improve the human experience. Tether CEO Paolo Ardoino expressed enthusiasm for the partnership, highlighting the alignment of both companies’ missions to push the boundaries of technological innovation and human potential.
Expansion and Strategic Divisions
The announcement comes on the heels of Tether’s recent expansion, which saw the introduction of four new business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. These divisions reflect Tether’s commitment to diversifying its portfolio and exploring new avenues of growth beyond the stablecoin market. The investment in Blackrock Neurotech through Tether Evo particularly showcases Tether’s interest in supporting technologies that have a transformative impact on society.
Our Take
Tether’s strategic investment in Blackrock Neurotech represents a bold step into the intersection of cryptocurrency and neurotechnology, highlighting a growing trend of cross-industry investments aimed at fostering innovative solutions for complex human challenges. By backing a company at the forefront of BCI technology, Tether not only diversifies its investment portfolio but also supports the development of technologies that promise to enhance the quality of life for individuals with severe neurological conditions. This move could set a precedent for other firms in the crypto and blockchain space, signaling a broader shift towards investments that contribute to societal well-being and technological advancement.
Sources
– Tech Briefs
