Stablecoin USDT issuer Tether, which has pursued active investments since 2023, has been confirmed to have made a strategic investment of $40 million to $50 million in bitcoin-backed lending platform Ledn, which it announced in November last year.
The investment values Ledn at about $500 million, CoinDesk reported on Friday, citing sources familiar with internal matters.
Ledn is a crypto finance company that provides bitcoin-backed loans, interest payments and asset management services to individuals and institutions. It switched to a “bitcoin-only model” in 2025. Registered in the Cayman Islands, Ledn is currently known as a platform focused on digital asset yield generation.
Tether has not issued an official comment on the matter, but since Paolo Ardoino became CEO, it has pursued an aggressive investment strategy using the financial assets it holds.
Tether introduced a policy in 2023 to allocate up to 15 percent of quarterly realised operating profit to bitcoin. In January 2026, it additionally bought about 8,889 BTC, worth about $780 million. On that basis, Tether has positioned itself as a corporate holder that systematically accumulates bitcoin.
Chi-gyu Hwang
delight@d-today.co.kr