Tether is weighing a multibillion-dollar fundraising round that could value the USDT issuer at half a trillion dollars.
Summary
- Tether is in talks to raise up to $20B at a $500B valuation.
- Funds would support expansion into AI, energy, and U.S. markets.
- USDT’s market cap recently hit $172B, far ahead of rival USDC.
Tether, the company behind the world’s largest stablecoin USDT, is exploring a fundraising round that could reach $20 billion and value the firm at around $500 billion.
On Sept. 23, CNBC reported that Tether (USDT) is in early discussions with a select group of high-profile investors, citing people familiar with the matter. Chief executive officer Paolo Ardoino later confirmed on X that the company is “evaluating a raise” to expand its strategy across stablecoins, artificial intelligence, commodity trading, energy, communications, and media.
The fundraising would involve issuing new equity rather than selling existing stakes.
Tether’s massive valuation target
If successful, the deal would place Tether among the world’s most valuable private companies, alongside SpaceX and OpenAI. Sources cautioned, however, that the talks remain preliminary and the eventual amount raised could be lower. Cantor Fitzgerald is advising on the deal, with some investors already accessing a data room for due diligence. A potential close is expected by year-end.
The scale of the raise comes amid Tether’s explosive financial growth. In Q2 2025, the company reported $4.9 billion in net profits and disclosed $162.5 billion in reserves against $157.1 billion in liabilities. USDT’s market capitalization has surged to $172 billion, far outpacing its nearest rival, Circle’s USD Coin (USDC), at $74 billion.
U.S. comeback strategy
The push for new capital coincides with Tether’s effort to reestablish a foothold in the U.S. Earlier this month, it announced a CEO for its U.S. arm and unveiled USAT, a dollar-backed stablecoin to be regulated under the GENIUS Act. Tether has also pledged to allocate part of its profits toward Bitcoin (BTC) purchases as part of a diversification plan.
A $500 billion valuation would mark a watershed moment for both Tether and the broader stablecoin market, though it could also renew scrutiny of the company’s reserve transparency.
