Tether has reportedly invested $200 million in neural implant company, Blackrock Neurotech.
This investment comes as part of the company’s restructuring. And plans to expand to other frontiers.
Tether’s $200M Investment in Blackrock Neurotech Expands Horizons
The investment also makes Tether a major stakeholder in Neurotech. The investment was allegedly made through Tether’s venture capital division Tether Evo. Blackrock Neurotech is a huge player in human brain-computer-interface (BCI) technology.
The company helps build devices that respond to brain signals. These medical devices are geared towards assisting individuals with neurological disorders and paralysis. Blackrock’s devices have enabled patients to send messages, operate robotic arms, move around with wheelchairs, surf the internet, and drive cars using brain signals.
Today Tether takes the majority stake in @BlackrockNeuro_ and unveils the ultimate pillar of its long term vision and strategy: Tether Evo🧠🦾
First of all, this investment (same as energy, mining, …) is done outside of stablecoin reserves, with our own company profits (last… https://t.co/aeDWK97mq1
— Paolo Ardoino 🍐 (@paoloardoino) April 29, 2024
One of Blackrock Neurotech’s patients, Nathan Copeland, historically used one of their devices to share a fist bump with former US President, Barack Obama. So, Tether’s $200 million investment will help spread some of BlackRock’s tested devices and expand its market. The funds will also help improve BlackRock’s medical research and keep them at the forefront of the industry.
Reaction to the Partnership
Tether CEO Paolo Ardoino, said in a statement: “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.”
“Blackrock Neurotech represents a leap towards a future where technology not only complements but enhances our human experience, and we at Tether are proud to begin this journey with them,” he added.
Similarly, Blackrock Neurotech co-founder Florian Solzbacher hailed Tether as a visionary partner. He said, “With its (Blackrock’s) commitment to seeking out and nurturing technology that will help many people and push mankind forward, we couldn’t dream of a better partner than Tether to bring our shared vision to life.”
Introducing tether evo 🧠✨🦾
From biotech to AI & beyond, Tether's investment in Blackrock Neurotech is just the beginning of our journey into pioneering projects that redefine the boundaries of what's possible, empowering humans throughout the future inevitable evolution. pic.twitter.com/LcCngQPPUZ
— Tether (@Tether_to) April 29, 2024
The investment comes amidst Tether’s organizational expansion. The firm recently launched new divisions to cater to different industries and interests.
We recently published an article about some of the best partnerships in recent days. Check it out here.
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