Tether, a company based in Salt Lake City, Utah, is on a mission to improve the lives of millions of people. In an effort to diversify its product offerings, Tether has made a strategic investment in Blackrock Neurotech, a competitor of Elon Musk’s neural implant company, Neuralink. This move has sent shockwaves throughout the cryptocurrency industry. Tether’s newly created venture branch, Tether Evo, has invested $200 million in Blackrock Neurotech.
With this investment, Tether aims to support Blackrock Neurotech, a leading innovator in neurology, neural engineering, and neural prosthetics. Blackrock Neurotech, founded in 2008 by Dr. Florian Solzbacher and Marcus Gerhardt, has quickly become a world leader in neurological engineering and neuroscience. The company’s mission is to improve the lives of individuals suffering from paralysis, neurological illnesses, or limited physiological functions.
Tether’s investment in Blackrock Neurotech showcases its commitment to diversifying its services. The company has rejected growth strategies that are not compatible with this investment. Tether has recently stated its intention to expand its services to include other infrastructure solutions alongside stablecoins.
In other crypto news, investors are eagerly awaiting the Federal Reserve’s interest rate decision, which is putting pressure on the crypto market.