Breaking News: Tether, the crypto world’s favorite stablecoin, is going full-on Old MacDonald with a whopping $615 million deal to buy a majority stake in Adecoagro, Latam’s agricultural powerhouse. And hold onto your hats, because they might just have their eyes on Bioceres, the biotech firm that’s seen better days (or stock prices)!
Tether’s Green Thumb: From Crypto to Crops and Maybe Biotech?
So, Tether’s apparently swapping blockchains for bean fields, diving headfirst into Latam’s agricultural scene. They’re throwing down over $600 million in cold, hard cash for a controlling slice of Adecoagro, which pumps out over2.8 million tons of goodies. Because, you know, when you think “stablecoin,” you definitely think “soybeans” and “sugar cane.”
Read more: Make Farming Great Again: Tether Pushes for Majority Stake in Adecoagro
This isn’t just a random shopping spree; it’s part of Tether Investments’ master plan to sprinkle their nearly $3 billion fund across different markets. Because why stick to crypto when you can play FarmVille IRL?
Mariano Bosch, Adecoagro’s CEO, is all about the tech vibes, saying they’re totally modern with their farming techniques. “We’re not just about cows and plows; we’re high-tech food and energy wizards,” Bosch basically said, but with more corporate speak.
We’re like, super into tech, even though we’re all about the traditional agro stuff. Cutting-edge is our middle name, and efficiency is our game.
Paolo Ardoino, Tether’s CEO, is equally pumped, saying this move is about backing the cool kids in emerging markets. “We’re here to support the underdogs, the innovators, the ones fighting the good fight for economic freedom!” he declared, probably while wearing a cape.
And the fun doesn’t stop there. Word on the street (or Bloomberg Linea) is that Tether’s got its eye on Bioceres, a biotech firm that’s had a bit of a stock market stumble. With Tether’s deep pockets, a $300 million market cap is just pocket change for another potential power play.
Insert GrowJs script here if needed
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2025-03-31 10:59