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04/16/2026

Tether Expands DeFi Footprint with $134 Million SKY Token Investment

Tether backed the Stablecoin Development Corporation's $134 million private placement to acquire SKY tokens.

Tether Expands DeFi Footprint with $134 Million SKY Token Investment

What happened: Tether backed the Stablecoin Development Corporation's $134 million private placement to acquire SKY tokens. The corporation is a publicly-traded holding company with approximately 2.15 billion SKY tokens in treasury.

Why it matters: This investment signals Tether's strategic expansion beyond stablecoin operations into broader DeFi infrastructure. By backing SKY token accumulation, Tether is positioning itself within the MakerDAO ecosystem while diversifying its revenue streams beyond USDT transaction fees.

Source: The Block