Tether participated in SDEV's previously announced $134 million private placement to purchase SKY tokens.

CoinFeed reported on April 16th that, according to The Block, Tether disclosed its participation in the previously announced $134 million private placement by publicly traded company Stablecoin Development Corporation (SDEV). SDEV holds approximately 2.15 billion SKY governance tokens of the Sky protocol (formerly MakerDAO), representing 9.15% of the total supply, and uses Sky's USDS stablecoin. The private placement, completed in January, included a deposit of 943.6 million SKY tokens, along with $25 million in cash and $51 million in stablecoins to purchase an additional 1.17 billion SKY tokens.