Tether, the world’s largest and most widely used stablecoin, is reportedly seeking to raise $15–20 billion in a private placement, which could value the El Salvador-based stablecoin giant at around $500 billion. However, final figures may be lower depending on investor negotiations. The firm’s USDT stablecoin already dominates the market with a $173 billion capitalization, and it recently unveiled plans for a U.S.-focused stablecoin, USAT, alongside hiring former White House crypto advisor Bo Hines. This fundraising push positions Tether against rival Circle, which went public earlier this year, as both firms expand amid a more favorable U.S. crypto policy environment.
Crypto Firm Tether Eyes $500 Billion Valuation in Major Raise, Bloomberg News Reports
