USDT Issuer Tether Submits Proposal To Acquire Juventus Football Club
Crypto heavyweight Tether has taken an unprecedented step into European football, submitting an all-cash proposal to acquire a controlling stake in Juventus Football Club, one of the most decorated teams in Italy’s sporting history. The proposal, disclosed on Friday, targets the Agnelli family’s holding company, Exor, which currently controls 65.4% of Juventus’ issued share capital. If accepted, the deal would hand majority ownership of the Turin-based Serie A side to the issuer of USDT, the world’s largest U.S. dollar–pegged stablecoin by market capitalization. Tether confirmed that the offer covers Exor’s entire stake and would be followed by a public tender offer for the remaining Juventus shares at the same price. While the crypto firm did not disclose its valuation or offer price, it emphasized that the bid is fully funded with its own capital and backed by a long-term commitment to the club. Juventus declined to comment on the proposal, while Exor was not immediately available for official comment. However, sources close to the Agnelli family were quick to play down the chances of a deal, stressing that Juventus is not for sale. Key Takeaways A Bold Move From a Crypto Powerhouse Tether’s bid comes after it quietly built a significant position in Juventus earlier this year. The company now holds more than 10% of the club, making it the second-largest shareholder after Exor. That foothold appears to have paved the way for a much more ambitious play. Beyond the acquisition itself, Tether says it plans to inject up to €1 billion into Juventus if the transaction is completed. The funds would be directed toward strengthening the club’s sporting project, infrastructure, and long-term financial stability, according to the company. Completion of the deal would still hinge on several conditions, including Exor’s acceptance, the signing of definitive agreements, and approval from relevant regulators. Italian football authorities and market regulators would likely scrutinize the transaction closely, given Juventus’ public listing and the scale of the proposed investment. According to reports cited by Italian outlet Calcio e Finanza, Exor has a limited window to formally respond to the proposal. Yet early signals suggest resistance rather than negotiation. Exor and the Agnelli Legacy The Agnelli family’s connection to Juventus runs deep, stretching back more than a century. In 1923, Edoardo Agnelli became chairman of the club, beginning a dynasty that would see Juventus rise to dominate Italian football with a record number of league titles. As recently as November, Exor CEO John Elkann reiterated that the family had no intention of selling its Juventus shares. That position appears unchanged following Tether’s approach. Sources close to Exor described the club as a core asset, not a disposable holding, reinforcing the view that the bid is unlikely to succeed in the near term. For the Agnellis, Juventus is more than a financial investment; it is a symbol of family heritage and Italian sporting identity. Why Juventus Matters to Tether For Tether, the Juventus proposal is about more than acquiring a famous football brand. It reflects a broader effort by the company to expand its influence beyond digital assets and into mainstream global institutions. Paolo Ardoino, Tether’s CEO, has made no secret of his personal connection to the club. An Italian national and lifelong Juventus supporter, Ardoino framed the bid in emotional as well as strategic terms. “For me, Juventus has always been part of my life,” Ardoino said. “I grew up with this team. As a boy, I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity. Those lessons stayed with me long after the final whistle.” Juventus has also been an early participant in crypto-related initiatives, including fan tokens and NFT projects designed to engage supporters and unlock new revenue streams. That openness to digital experimentation may have made the club particularly attractive to a company like Tether, which sits at the intersection of finance, technology, and global markets. Juventus’ Financial and Sporting Context The timing of Tether’s bid is notable. Juventus has endured a turbulent period both on and off the pitch. In recent seasons, the club has faced managerial upheaval, regulatory scrutiny, and inconsistent performances in domestic and European competitions. While Juventus last lifted a trophy in 2024, it has not enjoyed the sustained dominance that defined much of the previous decade. Financial pressures, combined with the demands of competing at the highest level, have forced the club to rethink parts of its strategy. As of May 2024, Forbes valued Juventus at just over $2.15 billion, placing it among the most valuable football clubs in the world. Its publicly traded shares, however, reflected a lower market capitalization of around $1.17 billion in 2025, underscoring the gap between brand value and investor sentiment. An influx of €1 billion, as promised by Tether, would dramatically alter Juventus’ financial outlook. It could fund squad rebuilding, youth development, and infrastructure upgrades, while also easing balance sheet pressures. That prospect alone explains why the bid has attracted so much attention, even if its chances of success remain slim. Tether’s Growing Financial Clout Tether’s ability to mount such a bid rests on its immense financial resources. USDT currently accounts for more than half of the global market for U.S. dollar–pegged stablecoins, according to data referenced by the Bank of Italy. As of Friday, USDT’s market capitalization stood at approximately $186 billion. The stablecoin is backed primarily by U.S. dollars and U.S. Treasuries, making Tether one of the largest holders of U.S. government debt among private entities. Stablecoins like USDT are designed to maintain a one-to-one peg with traditional currencies, relying on reserve assets such as government bonds and cash deposits. Their growing role in global crypto markets has drawn increased attention from regulators, central banks, and institutional investors alike. For Tether, acquiring a club like Juventus would represent a major reputational milestone, signaling confidence in its balance sheet and its long-term ambitions beyond crypto trading and payments. A Deal That May Redefine Crypto’s Role in Sports Even if Exor ultimately rejects
Unrealized Losses Across Crypto Hit $350B Including $85B in Bitcoin as On-Chain Indicators Signal Shrinking Liquidity
Unrealized losses across the cryptocurrency market have surged to levels rarely seen in 2025, underscoring a sharp rise in short-term stress as liquidity conditions tighten across major trading venues. Fresh on-chain data from Glassnode shows total unrealized losses now sitting at roughly $350 billion, with Bitcoin alone accounting for about $85 billion of that figure. The data arrives at a delicate moment for digital assets. After months of strong upside momentum earlier in the year, price action has turned choppier, while multiple liquidity indicators are flashing warning signs. Together, these dynamics suggest the market may be entering a period of heightened volatility that could shape trading behavior well into early 2026. “Unrealized losses across the digital asset market have expanded to approximately $350B, with Bitcoin representing around $85B of the total,” Glassnode data shows. Losses Build as Late Buyers Feel the Pressure Unrealized losses measure the gap between the price at which assets were acquired and their current market value. A rise in this metric means a growing share of holders are sitting on paper losses, even if they have not sold. Glassnode’s unrealized-loss heatmap reveals a broad expansion of loss-heavy zones across major crypto assets. Compared to recent months, more wallets are now underwater, pushing aggregate unrealized losses close to the upper range observed this year. Bitcoin’s contribution stands out. The increase in BTC’s unrealized losses accelerated following the pullback from the $120,000 region, where a large volume of coins changed hands late in the rally. At roughly $85 billion, Bitcoin’s unrealized losses are significant even by the standards of a highly liquid asset. This suggests that recent buyers entered at elevated prices just as momentum began to slow, leaving them more exposed to near-term downside. Historically, sharp rises in unrealized losses tend to coincide with two possible outcomes: forced selling by weaker hands or abrupt volatility expansions as thinner liquidity amplifies price swings. Current conditions show elements of both risks beginning to emerge. Liquidity Indicators Point Lower Beyond holder profitability, Glassnode highlights a clear contraction in market liquidity. Several key signals are moving in the same direction: stablecoin inflows are slowing, spot trading volumes on major exchanges have declined, and market-maker depth has thinned across multiple order books. This combination matters. When liquidity tightens, even modest changes in demand can trigger outsized price movements. That dynamic increases the likelihood of sharp, fast moves—up or down—particularly during periods of uncertainty. For traders and short-term participants, this environment raises execution risk. For the broader market, it creates a backdrop where volatility can resurface quickly after long periods of relative calm. Unrealized Profits Tell a Different Story While rising losses paint a picture of near-term strain, a separate Glassnode dataset offers important context. Unrealized profits across the crypto ecosystem remain substantial, still totaling hundreds of billions of dollars despite the recent pullback. Most long-term holders—those who accumulated earlier in the cycle—continue to sit on significant gains. Although unrealized profits have retreated from their 2025 peak, they remain far above levels seen during early-cycle phases. “When viewed over a multi-year horizon, unrealized profits continue to outweigh unrealized losses by a wide margin, particularly for Bitcoin.” For BTC specifically, a two-year view shows unrealized profits still vastly exceeding unrealized losses. This indicates the market is not operating in a net-loss regime. Instead, the stress is unevenly distributed, falling primarily on newer entrants and buyers who chased price strength late in the rally. This divergence between rising losses and still-elevated profits is not unusual. Similar patterns have appeared during late-stage bull-market corrections and extended mid-cycle consolidations, where price cools but long-term conviction remains largely intact. A Split Market: Short-Term Pain, Long-Term Resilience The current data highlights a clear split within the crypto market. On one side are short-term holders and recent buyers, increasingly exposed as liquidity tightens and prices consolidate below recent highs. On the other are long-term participants, many of whom remain comfortably in profit and under less pressure to sell. That imbalance helps explain why realized selling has not yet escalated in line with unrealized losses. As long as long-term holders maintain confidence, broad capitulation remains less likely, even as volatility risks rise. Still, the concentration of losses among late buyers carries implications for sentiment. If prices remain range-bound or dip further, some of these holders may be forced to exit, adding to short-term turbulence. For now, Glassnode’s data suggests the market is navigating a tension point rather than a full breakdown: shrinking liquidity, growing unrealized losses, and persistent unrealized profits coexisting in an increasingly fragile balance. As this setup unfolds, traders and investors alike will be watching whether thinning liquidity triggers sharper price reactions—or whether long-term holders continue to anchor the market through the next phase of the cycle.
Crypto Portfolio Allocation: Diversify your Portfolio
Crypto portfolio allocation means deciding how to spread your crypto investments across different coins, sectors, and strategies. It’s not just about buying your favorite token, it’s about creating a balanced mix that matches your goals and risk level. The crypto market is more advanced, with options ranging from big exchanges like Bitcoin and Ethereum to DeFi platforms, Web3 projects, AI tokens, and even NFTs. This variety brings more opportunities but also more risk. Without a plan, it’s easy to get caught up in market hype and make emotional decisions. A good allocation strategy helps you reduce risk, capture growth, and stay focused no matter how the market moves. In this guide, we’ll break down the basics of crypto portfolio allocation and show you how to build a plan that works for you. Key Takeaway What is crypto portfolio allocation? A crypto portfolio is simply a collection of different digital assets you own. Just like traditional investors might hold a mix of stocks, bonds, and cash, crypto investors build portfolios containing various cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and other altcoins. In practice, your crypto portfolio could include well-known coins like BTC and ETH, smaller altcoins with growth potential, stablecoins like USDT or USDC for stability. Sometimes even NFTs or tokens used for staking and yield farming A portfolio helps you organize and track your investments, rather than putting all your money into a single coin. Why portfolio allocation matters in 2025 (risk, efficiency, institutional adoption) In 2025, portfolio allocation is more important than ever because of these key reasons: Managing risk in a volatile market Cryptocurrency markets remain highly volatile, prices can rise or fall by double digits within hours. By spreading your investment across different assets, you reduce the chance that a single coin’s price drop will badly affect your entire portfolio. Achieving efficiency through diversification Different crypto assets can perform differently at the same time. Bitcoin might act like digital gold (more stable), newer altcoins might grow faster but can also drop faster, stablecoins don’t gain value but add safety and liquidity. By combining these in the right proportions, you can aim to capture growth from newer tokens. Aligning Portfolio to Your Investment Goals Before deciding which crypto assets to buy or how much to invest, it’s important to start by asking: What do I actually want to achieve? Clear goals help shape your portfolio and reduce emotional decisions later on. Defining your goals: growth, income, speculation vs. capital preservation Everyone’s goal is different, but most fall into these four categories: Your portfolio doesn’t have to pick just one. For example, you might have 60% aimed at growth (BTC, ETH), 20% generating income (staking), 10% speculative plays (new tokens) and a 10% in stablecoins for preservation. Risk tolerance vs. risk capacity These two sound similar but mean different things: Risk tolerance: How comfortable you are emotionally with seeing your portfolio drop in value. Some people don’t mind seeing a 30% dip, while others panic at 5%. Risk capacity: How much risk you can afford financially, based on your income, savings, debts, and life situation. Someone with stable income and no debt might have higher capacity than someone who needs to pay bills soon. Example: You might want to invest heavily in small altcoins (high risk tolerance). But if you can’t afford to lose the money right now (low risk capacity), you should adjust. A healthy portfolio balances both, so you can sleep well at night and still aim for your goals. Time horizon and liquidity needs Time horizon means how long you plan to keep your money invested. Liquidity needs mean how quickly you might need cash: If you may need funds soon, keep part of your portfolio in assets you can easily sell (stablecoins or BTC). If you won’t need the money for years, you can invest in staking or smaller altcoins that may take time to grow. Strategic Asset Portfolio Allocation Frameworks Once you know your goals and risk tolerance, the next step is deciding how to structure your overall portfolio. This is where strategic asset allocation comes in, it’s your big-picture plan for how much to invest in different types of assets, including crypto. Traditional vs. Crypto-Only Allocation You can either include crypto as just one part of a larger investment portfolio (traditional model) or build an entire portfolio around crypto assets (crypto-only model). Each has its pros and cons. A basic crypto-only setup might look like 70% Bitcoin (BTC) and 30% Ethereum (ETH) Use of Risk Parity or Equal Risk Contributions These are advanced strategies that are now gaining popularity especially with institutional investors in 2025. Risk parity means you allocate based on how risky an asset is, not just how much money you want to put in. Equal risk contribution works the same way. You measure each asset’s volatility and adjust your portfolio so that no single asset dominates the risk Goal‑Based Allocation Models This approach builds your crypto portfolio around specific life or financial goals, instead of just general investing. Here’s how it works, you define your goal, then build mini-portfolios for each. Each goal gets its own plan, allocation, and risk level. Recommended Portfolio Allocation Ranges Once you’ve chosen an allocation strategy, the next question is “How much of my money should I put into crypto?” The answer depends on your goals, your risk tolerance, and your overall financial situation. There’s no one-size-fits-all rule, but most experts in 2025 recommend starting small, especially if you’re new to crypto or already have a traditional investment portfolio. Let’s break it down into three main levels: small, moderate, and higher allocations. Small allocation scenario (1–5% crypto): Best for beginners or conservative investors In this scenario, you invest 1% to 5% of your total portfolio in crypto. The rest stays in traditional assets like stocks, bonds, or real estate. Example: If you have $10,000 total to invest, $9,500 stays in traditional investments, $500 goes into crypto (like BTC or ETH). Why this works:
How Much Tax Do I Have to Pay on Crypto: Simple Rules Explained
Imagine you bought Bitcoin for $5,000 last year and just sold it for $10,000. You’re excited about the $5,000 profit, until tax season comes and you realize the IRS or your local tax authority wants a share of it. This is where many crypto investors get stuck: how much tax do I actually have to pay on crypto? Cryptocurrency is no longer a gray area in the eyes of governments. In 2025, tax agencies around the world, from the U.S. IRS to the U.K.’s HMRC and India’s income tax department, are enforcing clear rules on how digital assets are taxed. Whether you trade coins, stake tokens, mint NFTs, or receive airdrops, chances are there’s a tax rule that applies. The key thing to know is that crypto is usually taxed in two ways: Capital gains tax when you sell, trade, or spend crypto at a profit, and Income tax when you earn crypto through mining, staking, airdrops, or payments. Understanding the difference between these two categories helps you figure out not just how much tax you owe, but also how to plan and reduce your liability legally. Key Takeaway What is Crypto Tax? Crypto tax simply refers to the tax you owe when you use, sell, or earn cryptocurrency. Just like stocks or property, your crypto transactions can trigger tax obligations. There are two main ways crypto is taxed: capital gains tax and income tax. Capital Gains Tax: You pay this when you sell an asset. If your crypto has increased in value since you bought it, the profit is taxed. The rate depends on how long you held it: Income Tax: You pay this when you earn crypto instead of buying it. This includes mining rewards, staking payouts, airdrops, or getting paid in crypto. The value of the crypto when you receive it is considered taxable income. Later, if you sell it, you may also owe capital gains tax on any additional profit. Tax authorities around the world, including the IRS (U.S.), HMRC (U.K.), ATO (Australia), and CBDT (India), have made crypto reporting a priority. In many countries, exchanges must now provide detailed tax forms directly to both users and tax agencies. This means you can no longer assume crypto is “under the radar.” Whether you’re a casual investor, a frequent trader, or someone earning through staking or mining, you need to know your tax obligations. Failing to report can lead to audits, penalties, and even legal action. Crypto as Property: Tax Treatment Fundamentals In the U.S., the IRS does not treat cryptocurrency as money. Instead, it classifies crypto as property, similar to stocks, bonds, or real estate. This means that every time you use or dispose of crypto, it can trigger a taxable event. Distinction Between Capital Gains and Ordinary Income Once you understand that crypto is property, the next step is knowing how it gets taxed. The IRS separates crypto taxation into two categories: Capital Gains Tax and Income Tax. Capital gains tax (CGT) is a tax you pay on the profit you make when you sell an asset that has increased in value. You’re taxed only on the gain, that’s the difference between what you paid for it (the “cost basis”) and what you sold it for. Governments use capital gains tax to collect revenue from wealth created through investments. Whether it’s stocks, real estate, or crypto, the idea is the same: if you profit, you owe tax. Unlike traditional currencies, most countries treat crypto as property, not money. This classification means that anytime you sell, trade, or use crypto, it triggers a taxable event, just like selling a stock or house. So, even if you’re just swapping Bitcoin for Ethereum or using crypto to buy a cup of coffee, that’s technically a disposal, and it may lead to capital gains or losses and possibly a tax bill. Again, if the crypto has gone up in value since you acquired it, you’ll owe tax on the profit. The rate depends on how long you hold it. Crypto can also be taxed as ordinary income if you earn it instead of buying it. This includes activities like mining, staking rewards, airdrops, or getting paid in crypto. In these cases, the crypto’s market value at the time you receive it is treated as taxable income. Later, if you sell or trade the crypto you earned, you may owe capital gains tax on any additional profit. That means the same piece of crypto can trigger two separate taxes: income tax when you receive it, and capital gains tax when you dispose of it. Capital Gains Tax on Crypto (How much do I owe) When you make money from selling, trading, or using crypto, those profits are subject to capital gains tax. The tax amount depends on what triggered the gain, how long you held the asset, and where you live. Also, your activities can be subject to taxable or non-taxable crypto activities. Taxable Events That Trigger Gains or Losses Not every crypto action is taxable, but these are the main situations where you’ll owe capital gains tax: Holding Periods: Short-Term vs. Long-Term How long you hold your crypto before disposing of it makes a big difference in the tax rate you’ll pay. If you held your crypto for one year or less, that’s a short-term: the profit is taxed as ordinary income (at your regular income tax rate). If you held your crypto for more than one year, that’s a long-term holding, and you may qualify for lower tax rates. Short-Term Capital Gains Tax Rates (2025) Short-term gains are taxed the same way as your salary or wages. In 2025, U.S. federal tax brackets range from 10% to 37%, depending on your total income and filing status. Example: If you earn $60,000 a year and make a $5,000 short-term crypto profit, that $5,000 is added to your income and taxed at your income tax rate. Ordinary Income Tax Range—10% to 37% (based on filing status/income) 10%, 12%, 22%,