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Tether Appoints Ex-Google, Limestone Capital Executive as Chief Business Officer

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Tether announced on Wednesday that it has named Benjamin Habbel as its new chief business officer, as the crypto firm expands its strategy beyond digital assets.

Habbel previously served as CEO of private equity firm Limestone Capital and held senior roles at Google. At Tether, he will oversee growth strategy, finance, investment, and portfolio expansion, while also working with the company’s diverse portfolio.

Tether’s investments already span artificial intelligence, telecommunications, bitcoin mining and energy, cloud computing, and real estate. Last year, the company invested $200 million to acquire a majority stake in U.S.-based brain implant company Blackrock Neurotech.

“Tether isn’t just a stablecoin company — it’s The Stable Company,” said CEO Paolo Ardoino, adding that Habbel’s appointment will accelerate Tether’s transformation into a broader technology and financial services powerhouse.

Headquartered in El Salvador, Tether is the issuer of the world’s largest stablecoin, USDT, which is pegged to the U.S. dollar and has a market capitalization of about $173 billion, according to CoinGecko.

The move comes as Tether looks to expand in the United States, where crypto firms are benefiting from President Donald Trump’s supportive stance on the sector and the launch of a U.S.-focused stablecoin, USAT.

Point72’s New AI Fund Nears $1.5 Billion After Impressive Returns

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Point72 Asset Management’s new artificial intelligence (AI)-focused fund, Point72 Turion, has seen rapid growth, with a 14% return since its launch just three months ago. Sources familiar with the matter indicate that the fund, which began trading in October 2024, is now nearing a value of $1.5 billion, surpassing expectations. The fund is set to suspend new investments once it reaches this milestone, anticipated in April 2025.

Point72 Turion, managed by portfolio manager Eric Sanchez, had initially aimed to raise $1 billion for its launch, as reported by Bloomberg in June. The fund’s strong performance has already attracted significant subscriptions, demonstrating growing optimism about the AI sector. The fund has posted monthly gains of 3.5%, 4.9%, and 5.2% in October, November, and December, respectively, finishing 2024 with a 14.2% return. This compares favorably with the 6.2% gain in the Nasdaq Composite Index during the same period.

This growth marks the first new fund for Point72 in decades, highlighting the hedge fund’s confidence in the potential of AI. The firm currently manages $35.2 billion in assets, with its main fund having risen 19% in 2024. Despite the impressive performance, a spokesperson for Point72 declined to comment on the fund’s progress.

 

Italy’s Data Centre Investments Set to Surge to €10 Billion by 2025-26

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Italy’s data centre investments are projected to reach €10 billion ($10.3 billion) in the 2025-2026 period, marking a substantial increase from the previous two years. This growth is driven by major technology firms eager to expand their cloud infrastructure to meet rising demand, particularly fueled by artificial intelligence (AI). According to a report from Milan Polytechnic University’s research hub, these investments will play a crucial role in boosting Italy’s technological capabilities.

However, the country faces challenges in accommodating this surge in investment. The report highlights potential bottlenecks in the power grid and the high cost of energy, which could impede the expansion of data centres. As large cloud developers, such as Microsoft and Amazon Web Services (AWS), ramp up their spending plans, access to affordable and reliable energy is becoming increasingly critical.

For context, Microsoft announced a €4.3 billion investment in Italy’s cloud network last year, while AWS committed to a €1.2 billion investment over five years. Despite these positive developments, concerns persist about the sustainability of the Italian electricity grid and its ability to support the growing demand for energy-intensive data centres. Marina Natalucci, director of the research hub, emphasized the need to address these energy supply challenges as Italy attracts more investments from global tech giants.