Cryptocurrency giant Tether is planning to propose its own list of candidates for the board of directors of Italian football club Juventus at the annual shareholder meeting scheduled for November 7. The move signifies a growing ambition within the crypto industry to exert influence within mainstream sectors.
Tether, the issuer of the world's largest stablecoin, has built a 10.7% stake in the Turin-based football club during the year, becoming the second-largest shareholder after Exor, the investment company of the Agnelli family, which owns 65% of the club. Juventus shareholders will vote on the renewal of the company’s board at the upcoming meeting.
In addition to proposing board candidates, Tether also intends to put forward some "governance changes" at the meeting, though it has not yet elaborated on the specifics. The company also plans to contribute to a capital increase worth up to 110 million euros ($129 million) proposed by the Juventus board last month. Exor has already contributed nearly 30 million euros toward this capital increase.
Tether's engagement with Juventus began in February 2025 with an initial acquisition of an 8.2% stake, which steadily grew to the current 10.7%. The company's CEO, Paolo Ardoino, stated that the investment reflects "a pledge to innovation and long-term cooperation" with Juventus. He added that Juventus is uniquely positioned to deploy new technologies for fan engagement and digital experiences.
The move by Tether is viewed by many in the crypto community as a bold step towards mainstream adoption. However, traditional finance circles are observing the situation with caution, particularly given reports of strained communications between Tether and Exor.
The current board of Juventus has faced controversy in recent years. In November 2022, all board members resigned amidst allegations of financial fraud related to player salaries. In September 2025, former Juventus President Andrea Agnelli and two other Juventus executives accepted plea deals with Italian authorities, receiving suspended sentences.
Tether's proposal comes on the 11th anniversary of the launch of its stablecoin, USDT. USDT remains the largest stablecoin by market capitalization, with over $177 billion.
