Tether Targets $20B Raise, Valuation Could Hit $500B

Tether, the issuer of the world’s largest stablecoin USDT, is reportedly exploring a private placement to raise $15 billion to $20 billion, according to Bloomberg. The raise would give investors around a 3% stake, valuing the firm near $500 billion. Cantor Fitzgerald is advising on the deal, though talks remain in early stages and final figures could be lower.

Tether recently posted $4.9 billion in net profit in the second quarter and disclosed reserves of $162.5 billion against $157.1 billion liabilities. It also holds around $8.9 billion in Bitcoin. With a $172.8 billion market cap, USDT dominates the stablecoin market, dwarfing Circle’s USDC at $74 billion. Bloomberg reported prospective investors have been granted access to a data room to review details over recent weeks. If successful, the raise would cement Tether as one of the most highly valued private companies globally, rivaling SpaceX and OpenAI in scale.

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