Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Funds to be used for roll-out of Blackrock Neurotech products
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TETHER Holdings, the issuer of the biggest stablecoin, said it invested US$200 million in Blackrock Neurotech, a maker of brain-computer interface technology.
Tether made the investment through its newly established venture capital arm Tether Evo, the company said in a statement on its website on Monday (Apr 29). The release didn’t say how much the deal values Salt Lake City-based Blackrock at.
Brain-computer interface technology has been popularised by Elon Musk’s Neuralink, which last month live-streamed an update to its implant that showed a quadriplegic man playing video cames using his mind.
Tether, meanwhile, is getting into startup investing after racking up surplus earnings from the giant hoard of Treasuries and similar instruments it holds to back its USDT stablecoin, which is designed to maintain a value of one US dollar and has reached a circulation of more than US$110 billion. BLOOMBERG
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