Stablecoin Development Corp, in which Tether is a major investor, saw its share price surge 1,000% in two weeks, going from a market capitalization of approximately $50 million to nearly $500 million, before falling back to around $4.50 per share. The company, whose primary business consists of earning interest on USDS, filed with the SEC stating it was unaware of why this movement was occurring. Meanwhile, Tether’s warrants related to the company become exercisable in mid-October, making them suddenly far more valuable. The company is no longer facing delisting risks from the New York Stock Exchange.
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