Tether invests up to $50 million in the crypto lending platform Leden, which is valued at $500 million.

In November, Tether made an investment of between $40 million and $50 million in Ledn, a cryptocurrency lending service provider. According to industry insiders familiar with the deal, the company’s valuation is estimated to be around $500 million. Tether stated in an official announcement that this investment is part of its efforts to expand Bitcoin-backed financial services, but the specific transaction details have not been disclosed.

Ledn’s Bitcoin-Backed Lending Business, Tether’s Key Investment Target

Ledn is a crypto finance company that offers loans backed by Bitcoin, including fiat and stablecoins. It provides a platform for individual investors and institutions to generate income from digital assets, obtain collateralized loans, and manage assets efficiently. In May of last year, Ledn, registered in the Cayman Islands, announced a strategic shift to focus solely on Bitcoin, aiming to reduce client asset risk. Tether’s recent investment is viewed as a decision aligned with Ledn’s Bitcoin-centric strategy.

Tether’s Active Expansion Beyond Cryptocurrency into Traditional Industries

Tether’s investment in a company valued at $500 million is part of a broad strategic activity following recent management changes. Since Paolo Ardoino became CEO in 2023, Tether has been gradually pursuing an active M&A policy.

Last year, Tether acquired a 70% stake in Adecoagro, an agricultural company operating sugar mills, rice farms, dairy, and renewable energy assets in Brazil, Argentina, and Uruguay. It also attempted to acquire over 10% of Juventus, an Italian football club, seeking management involvement, but the proposal to buy a 65.4% stake from major shareholder Exor was rejected.

These investment activities extend well beyond the crypto industry into traditional sectors, clearly demonstrating Tether’s diversification strategy.

Strategic Bitcoin Accumulation Based on Stablecoin Revenue

Tether, which issues USDT, the top dollar-pegged token by market cap, has a stable revenue-generating capability. The company has been systematically allocating up to 15% of its quarterly realized operating profits, generated from US Treasury holdings backing its stablecoins, to Bitcoin since 2023. In October, Tether reported approximately $10 billion in profit over nine months.

This policy has recently accelerated. As part of its profit distribution for the first quarter of 2026, the company added 8,888.88 BTC to its treasury, worth about $780 million at current prices. This continuous buying strategy is quietly transforming Tether into one of the largest Bitcoin holders among stablecoin issuers worldwide. By January 2026, it further purchased approximately $800 million worth of Bitcoin, bringing its total holdings to over 96,000 BTC.

Both Tether and Ledn did not issue additional official statements at the time of this investment announcement. FT Partners served as Ledn’s financial advisor for the deal, and Tether’s strategic investment in its $500 million valuation platform is interpreted as a signal of expanding blockchain financial ecosystems.