Tether Acquires 8.2% Stake in Antalpha via IPO

Tether, the issuer of the leading USDT stablecoin, has acquired an 8.2 percent stake in Antalpha, a bitcoin mining finance firm, through the company's initial public offering last year. The position, consisting of 1.95 million shares, was disclosed in a Schedule 13D filing with the U.S. Securities and Exchange Commission on Monday, positioning Tether as one of Antalpha's largest shareholders following the Nasdaq debut in May 2025.

The filing indicates that Tether purchased more than half of the shares offered in the IPO, which raised approximately 49.3 million at a price of 12.80 per share. Giancarlo Devasini, Tether's chief financial officer and a director, shares voting and dispositive power over the stake with Tether affiliates. The document notes that the company may adjust its holdings based on market conditions. This move aligns with Tether's strategy of deploying profits from its stablecoin operations into broader cryptocurrency and technology investments, rather than relying solely on reserves.

Antalpha specializes in bitcoin-backed lending and equipment financing for mining operators, maintaining a loan portfolio valued at about 1.6 billion as of the end of 2024. The...