Tether’s Stakes in 13 U.S. Companies Valued at $4.8 Billion in Market Estimate
Key Facts
Protos estimated Tether’s exposure to shares in 13 U.S.-listed companies at about $4.8 billion, based on closing prices on November 9, 2026. The estimate assigns a market value to stakes held by the company and does not represent an amount Tether said it invested. The report was published on November 11, 2026, offering a snapshot of the world’s largest stablecoin issuer’s presence in the U.S. stock market. Most of the value was concentrated in three companies: Twenty One Capital, Rumble and Adecoagro. Their stakes were worth a combined $3.66 billion, or 76% of the estimated total, according to Coindaro, based on filings with the U.S. Securities and Exchange Commission.
The report valued Tether’s stake in Twenty One Capital at about $1.367 billion at the November 9 close, the largest of the three positions cited. Rumble followed with a stake valued at $1.328 billion, while Adecoagro’s stake was estimated at about $965.6 million. The figures show that most of the estimated total is tied to a limited number of stocks, leaving the valuation of the stakes highly sensitive to changes in their prices. Twenty One Capital operates in a field related to Bitcoin, while Rumble is active in digital media and Adecoagro in agriculture, according to the report’s account of the three companies. Tether said its investment arm deploys capital from profits and excess reserves across sectors including artificial intelligence, financial services, energy, biotechnology, education and digital media.
Tether’s stake in Rumble points to a commercial relationship between the two companies as well as share ownership. Rumble disclosed that Tether had committed to provide $50 million a year in advertising services for two years, starting on February 16, 2026. Rumble recorded $6,730,859 in revenue related to the agreement during the six months ended June 30, 2026. In its quarterly report, the company said it generated $12,871,803 in revenue from Tether and its affiliates in the quarter ended September 30, 2026, compared with zero in the corresponding quarter of 2025. For the nine months ended September 30, 2026, revenue totaled $19,602,663, compared with $987,500 in the same period a year earlier.
An amendment to a Schedule 13D filing showed that reporting entities associated with Tether hold 50.3% of the economic shares in Rumble, while retaining less than 9.9% of voting control, according to the report, which cited a September 2026 filing. The distinction between economic ownership and voting rights highlights the nature of the ownership recorded in the filing. In another investment, Gold.com said in a filing for the quarter ended September 30, 2026, that Tether bought $126.4 million in shares in February and added $23.6 million in shares in May. The filing set the purchase price at $44.50 a share. The stake links Tether to the gold sector alongside its positions in companies operating in other fields.
Gold.com said its gross revenue from Tether-related metals, storage and logistics activities totaled $1.2 billion in its fiscal year ended June 30, 2026. The company added that these activities continued in fiscal 2027. Tether reported net operating profit of $1.5 billion in the third quarter of 2026. It also said reserve assets exceeded liabilities by $7,954,630,470 as of September 30, 2026. On February 5, 2026, Tether Investments announced a strategic investment of $100 million in Anchorage Digital, describing the move as an expansion of an existing relationship between the companies.