Tether confirms capital raise plans at reported $500B valuation

[3d render of computer keyboard with Tether button]
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Tether Holdings, issuer of the world's largest stablecoin tether (USDT-USD [https://seekingalpha.com/symbol/USDT-USD]), is evaluating a major fundraising round, its CEO Paolo Ardoino has confirmed.

“Tether is evaluating a raise from a selected group of high-profile key investors, to maximize the scale of the company's strategy across all existing and new business lines (stablecoins, distribution ubiquity, AI, commodity trading, energy, communications, media) by several orders of magnitude,” Ardoino said in a post on his official X account.

_Bloomberg News_, citing two sources, reported earlier that the company is seeking to raise $15 billion–$20 billion for a roughly 3% stake through a private placement. The report noted that the deal could value Tether at about $500 billion, putting it on par with some of the world’s largest private companies, such as SpaceX and OpenAI.

The stablecoin Tether (USDT-USD [https://seekingalpha.com/symbol/USDT-USD]), pegged to the U.S. dollar, recently topped a market cap of $172 billion. Its closest rival, Circle’s (CRCL [https://seekingalpha.com/symbol/CRCL]) USDC (USDC-USD [https://seekingalpha.com/symbol/USDC-USD]), holds a market value of about $74 billion.

MORE ON TETHER USD

* Crypto power Tether seeking $500B valuation in new capital raise - report [https://seekingalpha.com/news/4498135-crypto-power-tether-seeking-500b-valuation-in-new-capital-raise---report]
* Tether unveils new U.S. stablecoin compliant with new Genius Act rules [https://seekingalpha.com/news/4494473-tether-unveils-new-us-stablecoin-compliant-with-new-genius-act-rules]
* Financial information for Tether USD [https://seekingalpha.com/symbol/USDT-USD/income-statement]