Crypto company Tether has announced a significant investment of $200 million in Blackrock Neurotech, acquiring a majority stake in the U.S. brain implant company. Tether revealed this development in a statement released on Monday.
Blackrock Neurotech specializes in brain-to-computer interfaces, including neural implants that enable individuals to control computers and prosthetic arms without physical movement, as stated on its website. It’s important to note that Blackrock Neurotech has no affiliation with the asset manager BlackRock.
The deal, which concluded on Friday following several months of due diligence, values Blackrock Neurotech at approximately $350 million, with Tether emerging as its largest shareholder, confirmed Tether CEO Paolo Ardoino in an interview with Reuters.
According to Tether’s statement, the $200 million investment will primarily be allocated towards the commercialization and roll-out of Blackrock Neurotech’s innovative technology, which has already been successfully utilized by over 40 individuals.
In recent years, several device companies, including Elon Musk’s Neuralink, have initiated trials of brain implants in humans, signaling a growing interest and investment in neurotechnology.
Tether, known for issuing a dollar-pegged cryptocurrency that has experienced significant growth, reaching $100 billion in circulation by March, emphasizes that dollar-denominated reserves back its tokens.
Paolo Ardoino noted that Tether has allocated approximately $1.7 billion in venture capital investments to date, utilizing profits while maintaining the integrity of its reserves.
As outlined on its website, Tether’s investment portfolio spans various sectors, including sustainable energy, artificial intelligence, and peer-to-peer technology. The division responsible for the investment in Blackrock Neurotech, known as ‘Tether Evo,’ is dedicated to advancing humanity into a future where technology and human capabilities converge in unprecedented ways.
