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The investment includes an option for an additional $50 million in shares within a year. The ownership percentage remains undisclosed, with Bitdeer's share value increasing by 6.5% post-announcement.
Stablecoin issuer Tether has entered into an agreement to acquire up to $150 million worth of shares from prominent Bitcoin mining firm Bitdeer via a private placement deal, according to a May 31 statement. Under the agreement, Tether has acquired 18,587,360 Class A ordinary shares from the BTC miner for $100 million.
Tether is backing bitcoin miner Bitdeer as part of a private placement deal that could amount to proceeds of $150 million.
Tether has invested 100 million dollars in Bitdeer shares, with an option to purchase an additional 50 million dollars.
In an official announcement, Tether, the company behind the world's largest stablecoin, USDT, has agreed to purchase up to $150 million worth of shares in the bitcoin mining company Bitdeer.
Bitdeer secures multimillion-dollar private placement financing from Tether.
This year, the supply of the stablecoin tether has surpassed the $100 billion mark, and today, the leading dollar-pegged token boasts a market valuation of $111.9 billion. The majority of this supply resides on Tron, with the network hosting $58 billion in tethers, while Ethereum accounts for $51 billion.
The crypto industry is continuously growing, adding more digital assets and luring more and more investors. As per CoinmarketCap, the crypto market is worth a $2.55 Trillion market cap, offering hundreds of crypto exchanges and millions of cryptocurrencies.
In expanding its investment portfolio, Tether, the world's largest stablecoin operator, has secured up to $150 million in shares from Jihan Wu's cryptocurrency mining firm, Bitdeer. The deal includes a direct purchase of $100 million in shares and an option for an additional $50 million, signaling a robust partnership aimed at fostering technological advancements in
On Friday, Tether announced that it had entered into a subscription agreement with Bitdeer to buy up to $150 million worth of shares in a private placement.
The deal includes a warrant for Tether to buy an additional $50 million of shares in the next 12 months.
Tether has purchased $100 million worth of Bitdeer stocks, with an option to acquire an additional $50 million through a warrant.
Following the investment, Tether expects close collaboration with Bitdeer across several key infrastructure areas, CEO Paolo Ardoino said.
Bitdeer intends to use the proceeds to fund its data center expansion and ASIC-based mining rig development, the Singapore-based company said.
This feature covers payments, staking, swaps, and NFTs using any tokens in the user's account. The impact of this Tonkeeper's feature has been substantial.
Tonkeeper, a leading self-custody wallet for TON blockchain, has introduced a new feature that could significantly boost the network's adoption.
Tonkeeper has launched “gasless” USDT payments on TON in partnership with W5 Wallet. The gasless USDT payment system simplifies the transaction process so that users can pay network fees using the same token they are transferring.
Stablecoin issuer Tether has frozen about $5.2 million in USDT as part of its efforts to combat illegal transactions. Blockchain security service MistTrack announced the update in an X (formerly Twitter) post, which stated that the affected addresses are tagged as “USDT Banned Address,” indicating their suspected association with crime.
Tether has blacklisted the address 0x15E0Ce2b1a09fA1dED1a7729B0B568Ac67F4cdf7, holding 3.5 million USDT, monitored by blockchain security firm PeckShield.
Last week, the sharp rise in the benchmark blockchain asset invigorated other cryptos to watch, seemingly presenting a favorable backdrop.
The infamous cryptocurrency exchange Mt. Gox has once again hit the headlines , as significant transfers from its cold wallet have begun.
The stablecoin sector is gaining significant traction as it facilitates Russia in settling deals with China. Notably, this shifting focus towards crypto is driven by the challenges posed by international sanctions.
Russia's two largest unsanctioned metal producers have reportedly begun using Tether's USDT stablecoin for cross-border transactions with Chinese clients and suppliers. Russian commodities giants have reportedly started using stablecoins to settle cross-border transactions with China as the U.S.
The tumultuous realm of cryptocurrency, few rivalries have captured the attention of investors and enthusiasts quite like the ongoing feud between Ripple, Tether, and Bitcoin advocates. As accusations of spreading FUD, failed competition efforts, and regulatory battles dominate headlines, Ripple finds itself at a crossroads, grappling with the weight of industry scrutiny and the daunting task of charting a path forward amidst relentless opposition.
