Tether Subsidiaries Acquire Significant Stake in Bitcoin Mining Firm Antalpha

Tether's subsidiaries and its chairman, Giancarlo Devasini, have collectively acquired 1.95 million common shares in the Bitcoin mining financial services company Antalpha, representing 8.2% of its total shares post-IPO. According to ChainCatcher, Antalpha's initial public offering raised approximately $49.3 million, with an issue price of $12.8 per share, and Tether subscribed to about half of the issued shares. Antalpha maintains a close relationship with Bitmain and primarily offers Bitcoin-backed loans and mining equipment supply chain financing. The company's loan portfolio is projected to reach approximately $1.6 billion by the end of 2024.