Tether discusses raising up to $20 billion with a company valuation of $500 billion

Tether, the company issuing the largest stablecoin USDT, is in talks with investors about potentially raising $15–20 billion through a private placement, Bloomberg reported, citing sources familiar with the process.

According to them, the discussion involves selling approximately 3% of the company’s shares. If the deal is executed at such volumes, Tether could achieve a valuation of around $500 billion, comparable to the market capitalization of giants like OpenAI and SpaceX. For the cryptocurrency sector, this would be an unprecedented event, considering its limited regulation.

Tether CEO Paolo Ardoino confirmed on social network X that the company is considering raising capital from a group of major investors. According to him, the goal of the deal is to scale the business in all current and new directions, including artificial intelligence, commodity trading, energy, communications, and media.

Sources clarified that this involves issuing new capital, not selling stakes of existing shareholders. Cantor Fitzgerald is acting as an advisor, but the company declined to comment.

It is noted that the negotiations are at an early stage, and the mentioned amounts may change. One participant in the process emphasized that this is the “upper limit of expectations,” and actual figures may be lower.

According to CoinMarketCap, as of September 2025, the capitalization of USDT exceeds $172 billion, while the nearest competitor Circle with USDC has assets of approximately $74 billion.

Tether’s financial stability is ensured by income from placing reserves in US Treasury bonds and other liquid assets. In the second quarter of 2025, the company recorded a profit of $4.9 billion and reported a profitability level of 99%.

Additionally, Tether is preparing to return to the US market, where it previously faced regulatory pressure. In 2021, the company paid a $41 million fine for incorrect statements about reserves. Now it is betting on the new policy of the Donald Trump administration and plans to launch a stablecoin regulated in the US.

According to sources, potential investors have already gained access to the company’s internal data. The deal is expected to be completed by the end of 2025.