Tether Holds 8.2% Stake in Bitcoin Mining Company Antalpha

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Stablecoin issuer Tether, along with several of its subsidiaries and its chairman Giancarlo Devasini, holds 1.95 million shares of the Bitcoin mining financial services company Antalpha, accounting for 8.2% of its total equity after the initial public offering (IPO). Disclosure documents indicate that Antalpha raised approximately $49.3 million in this IPO, with a share price of $12.8, and Tether subscribed to about half of the issued shares. Antalpha has a close relationship with the Bitmain ecosystem and primarily provides Bitcoin collateralized lending and financing for mining machine supply chains, with a loan portfolio of approximately $1.6 billion expected by the end of 2024.

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