$500B valuation for $20B round would make Tether most valuable private company
Tether, the issuer of the world's largest stablecoin USDT with $170 billion in circulation and nearly 500 million users, is targeting a $500 billion valuation through a $15-20 billion private funding raise for a 3% equity stake. This would elevate the El Salvador-based company, co-founded in 2014 by an Italian-born former plastic surgeon, to the ranks of top privately held firms like SpaceX ($400 billion) and OpenAI ($500 billion).
CEO Paolo Ardoino confirmed the early-stage talks on X, noting the capital would amplify operations in stablecoins, AI, commodity trading, energy, communications, and media. Cantor Fitzgerald, which holds an undisclosed Tether stake, is advising lead investors; its ex-CEO Howard Lutnick, now Trump's commerce secretary, adds a political layer amid pro-crypto policies boosting the industry.
Tether reported $13.4 billion in profits last year, primarily from interest on Treasury holdings backing USDT, with Q2 2025 netting $4.9 billion. US Treasury Secretary Scott Bessent highlighted stablecoins as a growing buyer of government debt to fund spending. Despite past scrutiny—including a 2021 US fine for misleading reserve statements and allegations of aiding cybercrime (which Tether denies)—the move signals blockchain's maturation.
This fundraising, first reported by Bloomberg and detailed in FT, underscores Tether's pivot toward US compliance via its USAT arm under the GENIUS Act, potentially reshaping global finance.
Source:
