🚨 Breaking News: The issuer of the largest stablecoin by market cap just got a little shinier! ✨
Tether, the company behind the popular USDT stablecoin, has just acquired significant holdings with a gold-focused royalty company listed in Canada. 🤑
In a statement, Elemental Altus says that Tether just completed the purchase of 78,421,780 common shares at a price of C$1.55, or around $1.14 per share, for a total of C$125,553,759, or about $89 million. 💰
The acquisition represents approximately 31.9% of the precious metals royalty firm’s issued and outstanding common shares. 📈
Tether already owns 4,360,511 shares in Elemental Altus, which brings the USDT issuer’s aggregate common shares holdings to 82,782,291. This represents approximately 33.7% of the Canadian firm’s issued and outstanding shares. 📉
“Building on previous discussions with Tether, we are very pleased to officially welcome Tether as the Company’s new major shareholder. Their unmatched ability to support the company in its next phase of growth is exciting for all shareholders and is a positive for the gold royalty sector.” – Frederick Bell, CEO and director of Elemental Altus.
In a separate statement, Tether CEO Paolo Ardoino says the investment reflects the company’s confidence in gold and its role in financial markets. 💍
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2025-06-13 15:01