Tether has made 9 deals since September, and they point to three bets: AI, Latin America and gold. The latest: Tether leads Mural's $15M round.

In one week, it backed AI-agent payments startup AIsa, led Mural's round and joined Tenstorrent's $1.5B round for AI chips. In Latin America, it funded three fintechs plugging USDT into local banking: Plenti in Colombia, EFY in El Salvador and Peso in Bolivia.

The biggest check went into credit. With Fasanara, Tether anchored a $400M private credit fund that aims to reach $3B and lend to small businesses in 60+ countries, settled in USDT. Meanwhile it keeps buying Gold.com stock, with its stake now above 12.6%.