Tether Invests Up to $50 Million in Bitcoin-Backed Lender Ledn
According to sources cited by CoinDesk, Tether’s investment in Ledn valued the platform at roughly $500 million and adds to a broader portfolio that includes stakes in Adecoagro and Juventus Football Club.
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Summary
Tether invested between $40 million and $50 million in Bitcoin-backed lending platform Ledn in November, valuing the company at about $500 million. Sources cited by CoinDesk say the deal expands Tether’s investment portfolio, which also includes holdings in Adecoagro and Juventus Football Club.
Terms & Concepts
- Tether: A company that issues USDT, a stablecoin pegged to the U.S. dollar and widely used in cryptocurrency markets.
- Bitcoin-backed lending platform: A financial service that offers loans secured by Bitcoin, allowing borrowers to access liquidity without selling their holdings.
- USDT: A U.S. dollar–pegged stablecoin issued by Tether, commonly used for trading and settlements in crypto markets.