Tether Invests $40–50M in Bitcoin-Lending Platform Ledn
Tether, the issuer of the stablecoin USDT, has invested between $40 and $50 million in the crypto-lending platform Ledn, in a deal valuing the company at approximately $500 million, according to a source familiar with the transaction.
The investment, executed in November 2025, was not publicly disclosed at the time regarding its size or valuation. Ledn specializes in providing loans in both stablecoins and fiat currencies, secured by Bitcoin collateral.
This move aligns with Tether’s strategic expansion, following the appointment of Paolo Ardoino as CEO in 2023, leveraging high yields from its US Treasury-backed reserves. Ledn offers a range of crypto-financial services, allowing individuals and institutions to earn yields on digital assets, borrow against them, and manage their holdings.
Previously, in May 2025, Ledn transitioned to a Bitcoin-only model to simplify products and mitigate risks. Tether’s diversification extends beyond crypto; it acquired a controlling stake in AdequAgro and a minority share in Juventus FC last year.
At the start of 2026, Tether added approximately 8,888 BTC to its reserves, valued at around $780 million, under its policy since 2023 to allocate up to 15% of quarterly operating profits to Bitcoin investments, making it one of the world’s largest corporate Bitcoin holders.