SCHEDULE: Tether Entities Amend Schedule 13D for Antalpha Holding

Tether Global Investments Fund and affiliated entities have amended their Schedule 13D filing regarding their beneficial ownership of Antalpha Platform Holding Company shares.

Summary

• This filing is an amendment (Amendment No. 1) to a previously filed Schedule 13D concerning Class A Ordinary Shares of Antalpha Platform Holding Company.
• The reporting persons include Tether Global Investments Fund, S.I.C.A.F., S.A., Tether Investments, S.A. de C.V., Tether International, S.A. de C.V., and Giancarlo Devasini.
• Effective June 12, 2026, Tether Investments transferred 1,950,000 Ordinary Shares to Tether International, S.A. de C.V.
• This transfer did not change the aggregate number of Ordinary Shares beneficially owned by the reporting persons.
• The reporting persons collectively beneficially own 1,950,000 Ordinary Shares, representing 8.1% of the Issuer's outstanding shares.
• This percentage is based on 23,980,257 Ordinary Shares outstanding as of December 31, 2025, as reported in Antalpha's Annual Report on Form 20-F filed April 14, 2026.
• Giancarlo Devasini has a greater than 50% voting interest in Tether Global Investments Fund, S.I.C.A.F., S.A. and disclaims beneficial ownership except for his pecuniary interest.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily concerns an administrative update to beneficial ownership reporting rather than new financial results or strategic shifts for the issuer.

Positives

• The aggregate beneficial ownership of 1,950,000 shares (8.1%) remains unchanged despite the internal transfer, indicating continued significant stake.
• The filing is an amendment, suggesting ongoing compliance and transparency regarding shareholdings.

Negatives

• The filing does not contain any new financial performance data or strategic updates for Antalpha Platform Holding Company itself, focusing solely on ownership changes.
• Past regulatory actions against Tether entities (CFTC penalty of $41 million and NYAG settlement of $18.5 million) are noted in Schedule A, indicating potential past compliance issues.

Risks

• Past regulatory actions by the CFTC and NYAG against Tether entities highlight potential risks related to compliance and transparency in their operations.
• The disclaimer of beneficial ownership by Giancarlo Devasini, except for his pecuniary interest, could introduce complexity in understanding ultimate control and decision-making.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding Antalpha Platform Holding Company's future performance. It solely addresses an amendment to beneficial ownership reporting.

Management Comments

• Giancarlo Devasini has a greater than 50% voting interest in Tether Global Investments Fund, S.I.C.A.F., S.A. The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest.

Industry Context

StockSavvy.ai notes that this Schedule 13D amendment by Tether-affiliated entities regarding Antalpha Platform Holding Company reflects ongoing adjustments in significant shareholding structures within the digital asset and blockchain-related financial services sector. Such filings are crucial for transparency regarding major investors.

Legal Proceedings

• In October 2021, the U.S. Commodity Futures Trading Commission (CFTC) instituted and settled regulatory proceedings against Tether Global Investments Fund, S.I.C.A.F., S.A. (then Tether Holdings Limited), Tether Limited, Tether Operations Limited, and Tether International Limited, resulting in a civil monetary penalty of $41 million.
• In February 2021, the Office of the Attorney General of the State of New York (NYAG) entered into an agreement with Tether and several Bitfinex companies to settle a 2019 proceeding, requiring payment of $18.5 million in penalties and adherence to mandatory reporting on certain business functions.

Related Party Transactions

• Effective June 12, 2026, Tether Investments transferred 1,950,000 Ordinary Shares to Tether International, S.A. de C.V. This transfer did not alter the aggregate beneficial ownership of the reporting persons.

Stakeholder Impact

• Shareholders of Antalpha Platform Holding Company: The filing provides transparency on a significant ownership block held by Tether-affiliated entities, which may influence investor perception.
• Regulatory Bodies: The filing ensures compliance with SEC reporting requirements for significant shareholders.
• Tether Ecosystem Stakeholders: The internal share transfer among Tether-related entities confirms continued alignment and control within the group.

Next Steps

• Continued monitoring of Antalpha Platform Holding Company's filings for any further changes in beneficial ownership or operational updates.
• Review of Antalpha Platform Holding Company's financial reports for performance metrics.

Key Dates

Keywords

Schedule 13D, Antalpha Platform Holding Co, Tether Global Investments Fund, Tether International, Tether Investments, Giancarlo Devasini, Ordinary Shares, Beneficial Ownership, SEC Filing, Amendment