Tether Holdings, the issuer of the world’s largest stablecoin, is reportedly in talks to raise up to $20 billion in fresh funding—a move that could lift its valuation to an extraordinary $500 billion. If the round closes as envisioned, Tether would join the ranks of the most valuable private companies worldwide, alongside giants like OpenAI and SpaceX.
Sources familiar with the negotiations say Tether is weighing the sale of a 3% equity stake through a private placement. The deal could bring in between $15 billion and $20 billion, though the final figures are still under discussion. Investment bank Cantor Fitzgerald is said to be advising on the process.
Tether CEO Paolo Ardoino confirmed via social media that the firm is exploring partnerships with high-profile investors. The capital would not only reinforce its stablecoin business but also accelerate expansion into areas such as artificial intelligence, commodity trading, energy, communications, and media.
Currently, Tether’s USDT stablecoin dominates the market with a capitalization of around $172 billion, far ahead of its nearest competitor, Circle’s USDC, at $74 billion. Much of Tether’s profit stems from investing reserves in low-risk assets like U.S. Treasuries, which generated $4.9 billion in profit in the second quarter alone. Still, unlike public companies, its financial disclosures are not subject to regulatory audits.
The fundraising push comes as Tether signals plans to re-enter the U.S. market after past regulatory hurdles. The company is preparing to launch a U.S.-regulated stablecoin and has hired former White House crypto official Bo Hines to lead the effort. Tether previously exited the U.S. following a $41 million penalty in 2021 for misrepresenting its reserves.
If Tether secures the ambitious funding round, it would mark one of the largest capital raises in digital finance. With strengthened resources and a push into new industries, the stablecoin giant is positioning itself not just as a crypto leader, but as a key player in the broader technology landscape.
