Tether, the issuer behind USDT—the world’s largest stablecoin with a market cap of approximately $146 billion—has shown interest in buying up to $25 million worth of shares in an upcoming initial public offering, according to SEC filings.
Bitmain’s strategic financing partner Antalpha filed for an IPO on the Nasdaq, seeking $50 million, under the ticker ANTA.
Read more: Bitmain partner Antalpha files for U.S. IPO
The potential investment from Tether would be made at the IPO’s offering price and under the same terms as other investors. While the exact number of shares Tether may purchase has not been disclosed, the investment could represent a significant portion of the offering, reducing the shares available to the general public.
If completed, the transaction would follow Tether’s sizable purchases in Bitdeer (BTDR). As reported by Blockspace, Tether now holds about 25% of Bitdeer’s common stock.
Read more: Tether Increases Stake in Bitdeer Technologies
Antalpha had $1.63 billion in outstanding loans at the end of 2024, of which $428.87 million applied to its ASIC financing business and $1.12 billion to its bitcoin-backed loans.
