The issuer of one of the most traded cryptocurrencies, USDT has made its first dubbed in the venture capital investment, Tether has invested nearly $2 million in Arcanum Capital’s Arcanum Emerging Technologies Fund II.
Arcanum Emerging Technologies Fund II is a tokenized fund focused on the development, advancement, and growth of the Web3 industry.
As per the press release, the fund also intends to transform cross-border payments, privacy, and other banking services. Market experts argue that the funding by Tether will create a positive over the wider market sentiment resulting in over growth of the cryptocurrency market.
Following the announcement of funds, the chief executive officer of Tether Paolo Ardoino said ” In a world increasingly shaped by geopolitical tensions and macroeconomic uncertainty, the need for resilient technology to safeguard our freedoms has never been more crucial. We are proud to partner with Arcanum Capital to stand at the forefront of empowering people with the tools and knowledge to protect their sovereignty.”
It is worth noting that USDT is one of the most traded cryptocurrencies in the market, with $100.81 billion in volume in the past 24 hours and in terms of market capitalization it stands at the rank with a cap of $139.28 billion.
Tether expanding its presence worldwide with funding and partnerships!
Over time Tether the issuer of USDT had an alliance with dozens of firms, institutions, and some government organizations with an aim to expand its use cases, and adoption worldwide.
Yet it is also largely argued that, among registered cryptocurrencies, USDT stands at the top of the list of bad actors in terms of transactions.
Tether has also partnered with known firms like Chainalysis and others to tackle the surging usage of USDT in illicit activities, and other unauthorized cross-border payments.
Most recently a media outlet uncovered that Tether is reportedly planning to debut the Artificial Intelligence category with a launch of an AI platform in the coming year 2025, the development and launch of the AI will solely back the net profit of the company generated in 2024.
As per the available finances of Tether the company has netted around $10 billion in net profit in the ongoing year, and with the profit it further aims to expand its expertise, services, and products.
It is worth noting that Tether has reportedly invested in cryptocurrency mining, biotechnology, and several other industries to expand its diverse portfolio.
The termed competitor of Tether, USDC has also been dedicatedly working towards expanding its presence globally with N number of partnerships, alliances, and deals.
Crypto Market Price Updates
At the time of writing the cryptocurrency market capitalization was $3.34 trillion with a decline of 1.53 percent in the 24-hour time frame, at the same time Bitcoin was trading at $96,312 with a decline of 1.85 percent.
However, the cryptocurrency market volume has shown a growth of 3.32 percent in the past 24 hours, reaching $121.28 billion, with roughly 8 percent from DeFi over 90 percent of stablecoins and others.
The intraday gainer’s list has been ruled by Bitget Token (BGB) which grew over 14 percent trading at $7.21 followed by FTT trading at $3.71 with a growth of 10 percent, Hyperliquid added 6.20 percent reaching $ 27.18.
Some major losers in the past were Bonk which lost 6.05 percent reaching $0.00003086, Pudgy Penguins lost 10.20 percent trading at $0.03537 and Fantom lost 5.91 percent now at $0.8901.
