Tether, the issuer of the USDT stablecoin, acquired an 8.2% strategic stake in Antalpha, now making it one of the largest shareholders in the mining finance firm following its initial public offering (IPO). A document filed with the SEC this Monday reveals that Tether now holds 1.95 million shares through related entities.
It is worth noting that Antalpha offers Bitcoin-backed loan services and equipment financing to cryptocurrency mining operators, boasting a loan portfolio of approximately $1.6 billion as of late 2024. This investment highlights Tether’s ongoing commitment to crypto infrastructure, particularly the Bitcoin mining sector, where it aims to strengthen its presence and capitalize on long-term growth opportunities.
This purchase reveals Tether’s strategy to diversify its portfolio and expand its investments in various sectors related to non-tangible assets, including AI, mining, and financial services, funding these initiatives with its profits rather than its stablecoin reserves.
Source:https://goo.su/bsfMq
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