Tether Invests in Stablecoin Development Corporation's $134M Private Placement
Tether has participated in a $134 million private placement investment in Stablecoin Development Corporation (SDEV), which holds 2.15B SKY tokens. The investment included 943.6M SKY tokens, $25M in cash, and $51M in stablecoins in exchange for warrants to 167M shares of SDEV stock. SDEV's stock has dropped 98% since the transaction, closing at $1.50 per share with a market cap of ~$40M.
Topics: investment market performance private placement SKY tokens Stablecoin Development Corporation Tether