TechFlow News, April 16: According to The Block, Tether has confirmed its participation in the previously announced $134 million private placement financing round of publicly listed Stablecoin Development Corporation (SDEV). SDEV positions itself as a vehicle offering public-market investors exposure to the stablecoin sector, with core initiatives including holding Sky Protocol’s governance token SKY and utilizing the stablecoin USDS.
As of March 31, SDEV held approximately 2.15 billion SKY tokens, representing roughly 9.15% of the total supply. This financing was completed in January and included the deposit of 943.6 million SKY tokens, along with $25 million in cash and $51 million in stablecoins, which were used to acquire an additional ~1.17 billion SKY tokens.
