Tether joins $134M investment in Stablecoin Development Corp

Tether (USDT) has participated in a $134 million private investment in Stablecoin Development Corporation (SDEV), The Block reported. Other participants in the round include R01 Fund, Sky Frontier Foundation, and Framework Ventures. SDEV is a publicly traded company designed to offer structured investment opportunities within the stablecoin industry and is currently making strategic investments in the Sky (formerly MakerDAO) ecosystem. The company currently holds 9.15% of the total SKY supply, which amounts to approximately 2.15 billion SKY.