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Tether Backs Neuralink Rival in $200M Deal (Challenge to Musk?)

Tether Backs Neuralink Rival in $200M Deal (Challenge to Musk?)

Tether, the stablecoin titan behind USDT, recently announced strategically investing in Blackrock Neurotech, a prominent rival of Elon Musk’s neural implant firm Neuralink, to boost brain-computer interface (BCI) technology.  

Today, April 29, the stablecoin company made an official announcement highlighting the astounding $200 million investment made by Tether Evo, the company’s recently established venture branch. The announcement that Tether is attempting to extend its services into other industries, such as data, education, and power, has sent shockwaves through the cryptocurrency industry. 

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Encouraging Brain-Computer-Interface Technology with Tether’s New Venture 

According to the stablecoin giant’s statement, the abovementioned strategic investment seeks to boost one of the global pioneers in neuroscience, neural engineering, and neural prosthetics technologies. With Tether’s huge investment, the stablecoin giant is now a prominent stakeholder in Blackrock Neurotech. 

Since its founding in 2008, Blackrock Neurotech—aided by the knowledge of renowned scientists and pioneers in the field of Brain-Computer Interface (BCI) technology, Dr. Florian Solzbacher and Marcus Gerhardt—has quickly become a leader in the world of neuroscience, neural engineering, and neural prosthetics. Situated in Salt Lake City, Utah, the firm stands committed to alleviating the plight of millions worldwide grappling with paralysis, neurological disorders, and impaired bodily functions hindering mobility.  

Tether’s commitment to growing its portfolio is consistent with the company above’s investment in Blackrock Neurotech. Coinweber Media reported that not long ago, Tether ruled out expansion plans that further align with this investment. 

 

A Trip Apart from Stablecoins  

Tether announced earlier this month that it intends to offer a broader range of infrastructure solutions in addition to stablecoins. These infrastructure solutions comprised ‘Data, Finance, Power, and Education.’ 

The developments above represent a significant diversification of operations for the stablecoin issuer and are considered an essential accomplishment in the global cryptocurrency. At the time of publication, the 24-hour trading volume of Tether USDT coin increased by 22.62% to reach $46.84 billion.  

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