Tether Donates $250K to OpenSats to Support Bitcoin and Freedom Tech
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Tether Donates $250K to OpenSats to Support Bitcoin and Freedom Tech
Tether, the largest company in the digital assets space, announced a $250,000 donation to OpenSats, a 501(c)(3) charity that funds projects strengthening Bitcoin and open, censorship-resistant technologies.
The donation will support OpenSats’ operations and grant-making efforts. It will help fund free and open-source initiatives, including protocol development, privacy tools, research, and education, Tether said.
OpenSats directs 100% of donations to grantees, keeping operational costs separate to maintain transparency.
“We at Tether believe that Bitcoin, and the free, open-source software that powers it, are indispensable to a freer and decentralized future,” said Paolo Ardoino, CEO of Tether. “OpenSats is on the front line supporting the continued growth of this ecosystem by funding the next generation of innovators, and we are proud to support their work.”
Founded to create a sustainable funding model for Bitcoin and open-source software contributors, OpenSats allows donors to support specific projects or contribute to a general fund.
Grants are reviewed and awarded by a nine-member board.
Funding targets high-impact projects and a range of contributors, including developers, researchers, educators, designers, and reviewers, all working to strengthen and expand access to the Bitcoin ecosystem.
“OpenSats has provided over 300 grants to developers working on freedom tech projects. Support from Tether will help us continue to scale our mission globally,” said Matt Odell, co-founder of OpenSats.
Tether and bitcoin
Tether recently purchased nearly 8,889 bitcoin, adding over $1 billion worth of the asset at the time to its balance sheet and bringing its total holdings to more than 86,000 BTC.
The company continued its strategy of diversifying reserves into hard assets, including gold, agriculture, and stakes in firms like Adecoagro, while positioning bitcoin as a long-term hedge.
The acquisition coincided with Tether pursuing a $15–20 billion fundraising round, potentially valuing the company near $500 billion. Tether was reportedly in talks to raise up to $20 billion for a 3% stake, implying a valuation near $500 billion, putting it alongside companies like SpaceX and OpenAI.
Tether is the company behind the world’s largest stablecoin, USDT, which is pegged to the U.S. dollar and aims to provide a stable digital representation of traditional currency on blockchain.
Cantor Fitzgerald was said to be advising on the Tether fundraising round, which would involve new equity from outside the company rather than existing shareholders selling their stakes.
This post Tether Donates $250K to OpenSats to Support Bitcoin and Freedom Tech first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
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Tether Donates $250K to OpenSats to Support Bitcoin and Freedom Tech
Share:
Bitcoin Magazine
Tether Donates $250K to OpenSats to Support Bitcoin and Freedom Tech
Tether, the largest company in the digital assets space, announced a $250,000 donation to OpenSats, a 501(c)(3) charity that funds projects strengthening Bitcoin and open, censorship-resistant technologies.
The donation will support OpenSats’ operations and grant-making efforts. It will help fund free and open-source initiatives, including protocol development, privacy tools, research, and education, Tether said.
OpenSats directs 100% of donations to grantees, keeping operational costs separate to maintain transparency.
“We at Tether believe that Bitcoin, and the free, open-source software that powers it, are indispensable to a freer and decentralized future,” said Paolo Ardoino, CEO of Tether. “OpenSats is on the front line supporting the continued growth of this ecosystem by funding the next generation of innovators, and we are proud to support their work.”
Founded to create a sustainable funding model for Bitcoin and open-source software contributors, OpenSats allows donors to support specific projects or contribute to a general fund.
Grants are reviewed and awarded by a nine-member board.
Funding targets high-impact projects and a range of contributors, including developers, researchers, educators, designers, and reviewers, all working to strengthen and expand access to the Bitcoin ecosystem.
“OpenSats has provided over 300 grants to developers working on freedom tech projects. Support from Tether will help us continue to scale our mission globally,” said Matt Odell, co-founder of OpenSats.
Tether and bitcoin
Tether recently purchased nearly 8,889 bitcoin, adding over $1 billion worth of the asset at the time to its balance sheet and bringing its total holdings to more than 86,000 BTC.
The company continued its strategy of diversifying reserves into hard assets, including gold, agriculture, and stakes in firms like Adecoagro, while positioning bitcoin as a long-term hedge.
The acquisition coincided with Tether pursuing a $15–20 billion fundraising round, potentially valuing the company near $500 billion. Tether was reportedly in talks to raise up to $20 billion for a 3% stake, implying a valuation near $500 billion, putting it alongside companies like SpaceX and OpenAI.
Tether is the company behind the world’s largest stablecoin, USDT, which is pegged to the U.S. dollar and aims to provide a stable digital representation of traditional currency on blockchain.
Cantor Fitzgerald was said to be advising on the Tether fundraising round, which would involve new equity from outside the company rather than existing shareholders selling their stakes.
This post Tether Donates $250K to OpenSats to Support Bitcoin and Freedom Tech first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
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In This News
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Tether plans major expansion in commodities lending, deploys $1.5 billion capital