Tether has invested $200 million in Elon Musk’s Neuralink archrival BlackRock Neurotech.
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Tether, the largest stablecoin by market capitalization, has invested $200 million in BlueRock Neurotech, one of Neuralink's main competitors, Elon Musk's brain-chip company. With this move, Tether became a major shareholder of BlackRock Neurotech.
According to a press release published today, the investment was made by Tether Ventures division Tether Evo. This represents a significant move into the field of Brain-Computer Interface (BCI) technology.
BlackRock Neurotech, founded in 2008, is at the forefront of BCI technology, developing neural implants to assist individuals with paralysis and neurological disorders. The company is best known for its MoveAgain BCI system designed for home use, allowing patients to control devices with their thoughts.
In May 2021, BlackRock Neurotech closed a $10 million financing round led by Christian Angermayer's re.Mind Capital with participation from Peter Thiel, German entrepreneur Tim Sievers, and Sorensen Impact University Venture Fund II.
The organization achieved a historic milestone when patient Nathan Copeland used BCI to punch former President Barack Obama.
The $200 million investment from Tether will support BlackRock Neurotech's commercialization of medical solutions and R&D efforts to maintain its position as a leading BCCI company.
Paolo Arduino, CEO of Tether, expressed the company's commitment to developing technologies that improve the quality of life for people with neurological conditions and expand the application of the technology.
“Blackrock Neurotech is the beginning of our journey at Tether Evo to engage in projects that push the boundaries of what is possible at the intersection of technological innovation and human potential. Tether has long believed in nurturing new technologies with transformative potential, and BlackRock Neurotech's brain-computer interface has the potential to open new avenues of communication, rehabilitation and awareness, Arduino said.
Florian Solzbacher, founder of BlackRock Neurotech, emphasized the importance of visionary partners in advancing healthcare technologies.
My life's dream has been to help and restore lost people and advance technologies that will change healthcare and the world around us. This long-term effort requires dedicated and visionary partners. “We couldn't have dreamed of a better partner than Tether to bring our shared vision to life in our commitment to finding and nurturing technology that helps more people and propels humanity forward,” said Solzbacher.
Tether Ventures is part of BlackRock Neurotech's broader strategy to support emerging technologies through its newly launched divisions, Tether Power, Tether Edu and Tether Data, each focused on technological advancement and human empowerment.
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