Tether Invests $2 Million in Arcanum Capital Fund for Web3 Development

user avatar

by Giorgi Kostiuk

2 years ago

Tether, a prominent stablecoin issuer, has taken its first step into venture capital by investing $2 million into Arcanum Capital's fund focused on Web3 projects.

A New Investment Direction for Tether

Tether, one of the leading stablecoin issuers, has made a significant move into the venture capital space by investing $2 million in the Arcanum Emerging Technologies Fund II, managed by Arcanum Capital. This fund focuses on the development of decentralized technologies and is part of DigitalArray, highlighting Tether's growing interest in supporting and advancing new blockchain technologies.

Supporting Web3 and Blockchain Technologies

Arcanum Capital plans to utilize Tether's investment to develop Web3-focused projects that integrate artificial intelligence and blockchain technologies. Additionally, the goal is to improve USDT's utilization for payments and accelerate the development of projects using Holepunch technology, a platform for building peer-to-peer applications.

Expectations from the Partnership

Paolo Ardoino, CEO of Tether, expressed optimism about the collaboration with Arcanum Capital, believing that the partnership will lead to innovative tools that can empower people amid uncertainty. James McDowall, Managing Partner of Arcanum Capital, noted that Tether’s investment indicates confidence in their strategy and approach.

This investment emphasizes Tether’s commitment to fostering blockchain space growth and broadens its involvement in venture capital. The partnership with Arcanum could mark the beginning of more similar investments.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

C2FO and Ripple Introduce Instant Pay Initiative to Enhance Supplier Payments

C2FO and Ripple have launched the Instant Pay initiative to enhance supplier payments using the XRP Ledger and RLUSD.

user avatarLeo van der Veen

Moody's Ratings Assigns A2 and P1 Ratings to Ripple's RLUSD Stablecoin

Moody's Ratings has assigned an A2 long-term deposit rating and a P1 short-term deposit rating to Ripple's dollar-backed stablecoin RLUSD, issued by Standard Custody Trust Company.

user avatarLi Weicheng

Arthur Hayes Takes Profits and Reduces Market Exposure

Arthur Hayes, cofounder of BitMEX, has closed his directional trading book and taken profits on several tokens due to uncertainty in macroeconomic and geopolitical conditions.

user avatarElias Mukuru

Ethereum Faces Liquidations Amid Bitcoin's Price Volatility

Ethereum positions saw significant liquidations alongside Bitcoin's price drop, with approximately $13.672 million liquidated during the same four-hour period.

user avatarBayarjavkhlan Ganbaatar

Stablecoins Highlighted as Key to US Dollar Strategy

Stablecoins highlighted as crucial to US dollar strategy, emphasizing their connection to government debt and the evolving regulatory landscape.

user avatarAisha Farooq

Treasury Secretary Proposes New Approach to Cryptocurrency Regulation

Treasury Secretary Scott Bessent proposes a new strategy for cryptocurrency regulation, emphasizing cooperation between key regulatory bodies following the failure of the CLARITY Act.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.