Tether to Invest More Than $1 Billion in Deals Over Next Year

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The investment arm of cryptocurrency company Tether Holdings Ltd. expects to pour more than $1 billion into deals over the next 12 months, according to Chief Executive Officer Paolo Ardoino.

Tether Investments has a growing team of 15 people who are evaluating as many as hundreds of pitches each month, most of them coming directly from startups, Ardoino said in an interview. It’s focused on alternative financial infrastructure for emerging markets, artificial intelligence and biotech — areas where it has already spent about $2 billion over the past two years, he said.