Tether Invests $200 Million in Blackrock Neurotech to Advance Neurological Solutions

Tether Invests $200 Million in Blackrock Neurotech to Advance Neurological Solutions

Tether, a stablecoin issuer, has recently made a significant investment of $200 million in Blackrock Neurotech, a biotech firm specializing in aiding individuals facing paralysis, loss of function, and neurological disorders. This investment was facilitated through Tether’s newly established venture arm, Tether Evo, resulting in Tether becoming the majority stakeholder in Blackrock Neurotech. The funding will support Blackrock Neurotech’s efforts in commercializing and deploying its medical solutions, as well as advancing its research and development endeavors.

Paolo Ardoino, CEO of Tether, clarified that such investments are financed through company profits rather than stablecoin reserves. Tether has reported a remarkable net profit of $2.9 billion in its most recent Q4 2023 attestation report, indicating robust financial standing.

Ardoino expressed Tether’s broader vision through Tether Evo, emphasizing a commitment to ventures that redefine possibilities at the convergence of technological innovation and human potential. He highlighted the transformative potential of Blackrock Neurotech’s Brain-Computer Interfaces (BCIs) in facilitating communication, rehabilitation, and cognitive enhancement.

Blackrock Neurotech, established in 2008, is a trailblazer in BCI technology, striving to aid millions worldwide affected by paralysis and neurological ailments. Their tools enable patients to control devices through neural signals. Notably, in 2016, a patient named Nathan Copeland utilized Blackrock’s BCI technology to control a robotic arm and even interact physically with then U.S. President Barack Obama. Such advancements have also facilitated the decoding of words and sentences from brain signals, providing a voice to those who have lost speech due to neuromuscular conditions or injuries.

The company was founded by Dr. Florian Solzbacher and Marcus Gerhardt at the University of Utah, later relocating to Salt Lake City, Utah. Solzbacher expressed his lifelong aspiration to restore lost function and revolutionize healthcare through innovative technologies, underscoring Tether’s alignment with their vision as an ideal partner to realize shared objectives.