Tether invests in sleep wellness firm Eight Sleep at $1.5 billion valuation

Tether Investments said Wednesday it took a strategic stake in sleep-technology firm Eight Sleep, backing the company at a $1.5 billion valuation. The deal is intended to pair Eight Sleep's consumer hardware with Tether's recently launched on-device data platform.

Eight Sleep develops AI-powered sleep systems that use embedded sensors to track biometrics and adjust temperature in real time.

According to a statement, the investment will establish a long-term collaboration to build AI-driven health technology, with Eight Sleep planning to develop features using Tether's QuantumVerse Automatic Computer (QVAC) decentralized AI. The companies said the goal is to deliver health intelligence that runs locally on devices.

The investment follows the recent launch of QVAC Health, a wellness platform designed to aggregate data from wearables and manual logs into an encrypted, offline-capable environment. The platform's long-term vision is to establish local, user-controlled intelligence as the foundation for personal health data.

Tether’s expansion into the medical and wellness sector also includes a $200 million majority stake acquisition in biotech firm Blackrock Neurotech in Apr. 2024. That investment was facilitated through Tether Evo to fund brain-computer interface technology for patients with neurological disorders.

Tether Investments is the independent investment arm of Tether, the issuer of USDT, the world's largest stablecoin by market capitalization. According to The Block's data dashboard, USDT accounts for approximately 62.5% of the $294.5 billion total supply of U.S. dollar-pegged stablecoins.

Forbes reported last week, citing industry sources, that Tether is trading on secondary markets in a range of $350 billion to $375 billion.