Tether Targets Half-Trillion Dollar Valuation in New Private Round

Tether, the company behind the world’s most traded stablecoin, USDT, is preparing a major private funding round that could value it among the globe’s most valuable private firms.

According to multiple reports, Tether is seeking between $15 billion and $20 billion from investors in exchange for roughly 3% of its equity, a raise that would put Tether’s valuation close to $500 billion.

Fundraising push and global comparisons

At that valuation, Tether would sit alongside household names like OpenAI, which has been in talks about a $500 billion valuation, and ahead of Elon Musk’s SpaceX, valued at $400 billion earlier this year.

Chief executive Paolo Ardoino confirmed the fundraising effort on X, noting that the deal would “maximize the scale” of Tether’s existing and future business lines. Cantor Fitzgerald, which previously acquired a stake in Tether, is advising the investors leading the talks.

Tether issues USDT, a dollar-pegged stablecoin used as a trading pair across nearly every crypto exchange. With about $170 billion in circulation and nearly half a billion users globally, USDT serves as a bridge between traditional finance and digital assets like Bitcoin and Ethereum.

The token is backed by high-quality, liquid assets such as U.S. Treasuries, which also generate significant interest income. Tether reported $13.4 billion in profit last year, driven largely by this income stream.

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