Tether Buys $200 Million Majority Stake In Brain-Computer Interface Company

Crypto company Tether announced Monday that it has invested $200 million to acquire a majority stake in brain-computer interface company Blackrock Neurotech via its venture capital division Tether Evo. [The firm is not related to the asset management giant BlackRock.] CoinDesk reports: Blackrock Neurotech develops medical devices that are powered by brain signals and aims to help people impacted by paralysis and neurological disorders. The investment will fund the roll-out and commercialization of the medical devices and also for research and development purposes, the press release said. Tether is the company behind USDT, the largest stablecoin with a market cap of $110 billion. Recently, Tether established four divisions to expand beyond stablecoin issuance. "Tether has long believed in nurturing emerging technologies that have transformative capabilities, and the Brain-Computer-Interfaces of Blackrock Neurotech have the potential to open new realms of communication, rehabilitation, and cognitive enhancement," Paolo Ardoino, CEO of Tether, said in a statement.

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