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Tether invests $200M in neurotech company

Tether the operator of the eponymous Tether stablecoin, the world’s largest stablecoin by market value — has completed a major investment following restructuring of its business.

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Tether the operator of the eponymous Tether stablecoin, the world’s largest stablecoin by market value — has completed a major investment following restructuring of its business.

On April 29, Tether announced a strategic investment of $200 million into Blackrock Neurotech, becoming the majority stakeholder in the neural implant company. The investment was carried out through Tether Evo, a brand-new division at Tether focused on the intersection of human potential and technology.

Established in 2008, Blackrock Neurotech is a global pioneer of human brain-computer-interface (BCI) technology, known for its advanced brain-computer interfaces.

The firm is committed to helping millions of people around the world afflicted with paralysis, lost function and neurological disorders that prevent them from walking, seeing, hearing, feeling or talking.

Through Blackrock Neurotech’s brain interface technology, patients have operated robotic arms, maneuvered wheelchairs, sent messages, surfed the internet, and even driven a car using the power of their thoughts.

Tether’s $200 million investment aims to fund the commercialization and rollout of medical solutions that have already been successfully applied to more than 40 individuals. The investment will also be used to improve Blackrock Neurotech’s research and development and maintain its position as a major BCI player in the future, with a long-term focus on human evolution.

According to Tether CEO Paolo Ardoino, Blackrock Neurotech is just the beginning of the company’s journey through Tether Evo to support projects that “redefine the boundaries of what’s possible at the intersection of technological innovation and human potential.” He added:

“Blackrock Neurotech represents a leap towards a future where technology not only complements but enhances our human experience, and we at Tether are proud to begin this journey with them.”

Blackrock Neurotech co-founder Florian Solzbacher noted that Blackrock Neurotech’s mission of helping restore functions in people is a long-term endeavor and requires dedicated and visionary partners.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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