23 September 2025
Updated 24 September

Tether Seeks $20B Raise for $500B Valuation, Bloomberg Reports

Tether plans to raise $15-$20 billion through a private placement for a 3% stake, aiming for a valuation of approximately $500 billion.
This valuation would align Tether with companies like OpenAI and SpaceX.
Cantor Fitzgerald is the lead adviser for this equity issuance.
Tether's USDT has a market cap of about $172.8 billion, the largest among stablecoins.
Circle's USDC holds the second-largest stablecoin market cap at $74 billion.
In Q2, Tether reported a net profit of $4.9 billion and maintained reserves of over $162.5 billion against $157.1 billion in liabilities.
Tether's reserves include approximately $8.9 billion in Bitcoin.
Discussions are in early stages, and final figures may vary; potential investors have been granted data room access.