# Tether Backs $SKY Treasury Company in $134M Private Sale

*Author: Jack Inabinet*
*Published: Apr 16, 2026*
*Source: https://www.bankless.com/es/read/news/tether-announces-participation-in-134m-sky-dat-private-placement*

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Digital asset issuer Tether has disclosed its participation in $134M private placement investment made this January into Stablecoin Development Corporation (NYSE: SDEV), a digital asset treasury company that holds 2.15B SKY tokens.

### What's the Scoop?
- **Private Placement: **Tether has formally [disclosed](https://tether.io/news/tether-backs-134-million-raise-as-stablecoin-infrastructure-expands-into-mainstream-use-cases/) it participation in Stablecoin Development Corporation’s $134M January private placement raise, alongside Framework Ventures, Sky Frontier Foundation, and others. Although the terms of Tether's specific investment were not disclosed, the raise [transferred](https://www.sec.gov/Archives/edgar/data/1389545/000143774926009301/ex_935701.htm) 943.6M SKY tokens, $25M in cash, and $51M in stablecoin to SDEV, in exchange for warrants to 167M shares of common stock (a position worth approximately $15B on the transaction's January 16 [completion](https://www.sec.gov/Archives/edgar/data/1389545/000143774926009301/ex_935701.htm) date, based on the stock’s intraday peak of roughly $90 per share).
- **Massive Position: **With SKY holdings of 2.15B, SDEV controls approximately 9.15% of total token supply. SDEV actively stakes its holdings, and has [earned](https://www.sec.gov/Archives/edgar/data/1389545/000143774926009301/ex_935701.htm) ~26.6M SKY (~$2M) from its position as of March 26, 2026.
- **DAT Performance: **Formerly known as NovaBay Pharmaceuticals before [rebranding](https://x.com/RuneKek/status/2036113644446965920) earlier this month, SDEV shares have plummeted 98% since the completion of its private placement offer on January 16. Three months later, the company closed trading on April 16 at $1.50 per share with a market capitalization of ~$40M.

> . [@tether](https://twitter.com/tether?ref_src=twsrc%5Etfw) 🤝🤝🤝 [@SkyEcosystem](https://twitter.com/SkyEcosystem?ref_src=twsrc%5Etfw) [https://t.co/zMu3m8L3wf](https://t.co/zMu3m8L3wf)— Vance Spencer (@pythianism) [April 15, 2026](https://twitter.com/pythianism/status/2044449214537847071?ref_src=twsrc%5Etfw)