Tether's Secret Loan to Troubled Commodity Trader Radiant World Revealed

Crypto giant Tether was among the lenders to embattled commodity trader Radiant World in 2024, providing it with a $150mn committed facility for its base metals trading business.

The facility was intended to fund Radiant World's expansion into commodities trade finance, and was repaid by the company before Tether chose not to renew it.

Radiant World has faced intense scrutiny in recent months due to allegations that it used fake invoices to obtain financing for its large iron ore trading activities. The company denies these allegations, but several banks and counterparties have stopped doing business with it.