Tether eyes $500B valuation, plans to sell 3% stake: Report
Tether, the company behind the USDT stablecoin, is reportedly aiming for a massive $500 billion valuation by selling a 3% stake in its El Salvador-based crypto firm.
The plan—revealed by Bloomberg News on Tuesday—could raise between $15 and $20 billion, though the numbers might shift depending on how much of the company is actually up for grabs.
USDT's dominance and Tether's growth strategy
USDT remains a big deal in crypto, helping keep prices steady with its huge $173 billion market cap.
Tether's making moves to grow in the US too: they recently brought on Bo Hines, a former White House crypto policy adviser, and are prepping to launch USAT—a new stablecoin designed for US residents.
With rivals like Circle going public earlier this year, these steps show Tether's not slowing down anytime soon.