Tether Discloses 8.2% Post-IPO Stake in Antalpha With Voting Power Held by Devasini

Overview

• Tether’s Schedule 13D, published Monday, confirmed ownership of 1.95 million Antalpha shares, granted chairman Giancarlo Devasini voting control, and said the stake could increase or decrease over time.
• Tether built the position in Antalpha’s May 2025 Nasdaq IPO, buying more than half of the shares in a $49 million offering priced at $12.80 per share.
• Antalpha finances bitcoin miners with loans secured by bitcoin and mining rigs and it works closely with Bitmain to fund equipment purchases and operating costs.
• The lender reported 2025 revenue of about $79.7–$80 million with $18.5 million in net income, and earlier disclosed a loan book of roughly $1.6 billion at the end of 2024.
• Antalpha shares recently traded around $9.30 to $9.97, more than 27% below the IPO price, as many miners shift spending toward AI and high-performance computing, pressuring mining finance stocks.