Stablecoin issuer Tether has invested $200 million in BlackRock Neurotech, taking a majority stake in the brain-computer interface startup.
The Salt Lake City-based company develops brain-computer interfaces and implants that allow people to control computers and neuroprosthetics. According to Crunchbase, the company had only raised $10 million before the new round from Tether, and Reuters reports that Blackrock Neurotech is valued at about $350 million.
The deal is the latest headline for the brain-computer interface technology that Elon Musk’s Neuralink has been promoting. The company recently livestreamed a quadriplegic man playing a video game using one of its implants. The company has raised nearly $700 million, according to Crunchbase.
Investing in innovation
Tether’s investment in BlackRock Neurotech comes out of the company’s recently launched Tether Evo division, which, according to the company’s website, is “an unprecedented combination of technology and human capabilities. “We are dedicated to propelling humanity into a future of convergence.”
“Blackrock Neurotech is just the beginning of our journey through Tether Evo, taking on projects that redefine the boundaries of possibility at the intersection of technological innovation and human potential,” said Paolo Ardoino, CEO of Tether. states. “Tether has long believed in fostering emerging technologies with innovative capabilities. BlackRock Neurotech’s brain-computer interfaces have the potential to open new areas of communication, rehabilitation, and cognitive enhancement. It’s hidden.”
According to Bloomberg, Tether is investing after pooling profits from the U.S. Treasuries and other financial instruments it holds to back the USDT stablecoin. USDT is designed to preserve the value of the US dollar.
Illustration: Dom Guzman
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