Tether eyes $20B raise, could hit $500B valuation
Tether, the company behind the USDT stablecoin, is looking to raise up to $20 billion in a private round advised by Cantor Fitzgerald.
If all goes as planned, Tether's valuation could hit an eye-popping $500 billion by the end of the year—making it one of the world's most valuable private companies.
USDT's dominance and Tether's profit
USDT is already a giant in the crypto world, with $172 billion in circulation. Tether pulled in $4.9 billion profit last quarter—mostly from interest on US Treasuries.
Tether, under CEO Paolo Ardoino, is using its massive profits to branch out into areas like AI, energy, and media.
Regulatory compliance and the USAT stablecoin
This fundraising isn't just about growth—it's also about playing nice with regulators.
Tether plans to launch a US-regulated stablecoin called USAT and strengthen its position against rivals like Circle (currently valued at around $30 billion).
The move could boost stablecoins' role in global finance even further.