Tether investment coincides with 30% drop in Juventus shares

Tether acquired an 8.2% stake in Juventus, Italy's most successful football club, in February 2025. The stablecoin firm has since raised its holding to over 11% of Juventus shares and 7% of voting rights.

Since that first stake was announced, Juventus shares have lost more than 30% of their value.

Following its initial purchase, Tether attempted to buy the club outright. Exor, the controlling shareholder, declined the offer without a single dissenting vote.

Even so, the world's largest stablecoin did not leave its substantial outlay completely unrewarded.

How a $100B stablecoin empire deploys its capital

Garino arrives on the board

On the surface, Tether's sizeable investment might seem fruitless, but the actual story is more unusual.

For its over 11% stake in the club, Tether secured a board seat for its nominee, Francesco Garino.

Tether's public statement called Garino “a true Juventino DOC for 50 years,” but the link is far closer.

Garino told the Italian outlet La7 that he was “Tether’s trusted man” and that he had known Bitfinex CFO and Tether co-owner Giancarlo Devasini for “50 years, since we were children.”

The waiting strategy

The decline in Juventus's stock value might ultimately work in Tether’s favour.

As a minority owner, Tether can criticise the decisions of majority owner Exor and pressure it for control.

On the field, the club is seventh in Serie A, with three victories, one draw and one defeat, leaving it without a place in any major European competition.