Tether Aims to Raise $20 Billion Through Stock Sale at $500B Valuation

Tether, the issuer of the USDT stablecoin, plans to raise $20 billion through a stock sale, targeting a valuation of $500 billion. The company is considering options like corporate buybacks and tokenizing its equity on a blockchain.

Tether aims to prevent an existing shareholder from selling stock at a lower valuation of approximately $280 billion.
The firm has warned investors against circumventing the formal stock sale process managed by global investment banks.
Over the past year, Tether's market cap increased by $46 billion, reaching $186 billion, amid expanding stablecoin demand.
Projected profits for the year are $15 billion, with concerns that discounted secondary sales might undermine capital raising confidence.
Tether does not plan to allow existing shareholders to divest as part of the main deal.

In September 2025, discussions about Tether's $20 billion stock sale began, valuing the company similarly to OpenAI and SpaceX.

Tokenized Equity Exploration

Tether is exploring tokenized equity, following companies like Galaxy Digital, Kraken, and Robinhood.
Last year, Tether launched its tokenization platform, Hadron, to support asset digitization.
The tokenization market reached a total value of $18 billion this year.
Crypto firms increasingly use buybacks for interim liquidity, with Ripple repurchasing over 25% of its shares recently.