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Tether, the issuer of the world’s largest stablecoin, is preparing a massive fundraising round that could value the company at up to $500 billion, putting it in the same league as global giants like SpaceX and OpenAI. CEO Paolo Ardoino confirmed on X that the El Salvador-based company is evaluating a raise between $15 billion and $20 billion for a roughly 3% stake through a private placement.
The funds are intended to supercharge Tether’s expansion across multiple sectors, including stablecoins, artificial intelligence, commodity trading, energy, communications, and media. Ardoino said the capital would allow the company to “maximize scale by several orders of magnitude,” while Bloomberg reported the deal would involve new equity rather than existing investors cashing out. Talks, however, are still in early stages.
Tether has been strengthening its U.S. presence as pro-crypto sentiment rises, recently appointing a CEO for its U.S. business under the GENIUS Act. With USDT’s market cap surpassing $172 billion, the stablecoin continues to dominate over Circle’s USDC, worth about $74 billion.
