Tether Eyes US Market with New Token Amid $500 Billion Valuation Goal
Tether plans to expand its presence in the US market, driven by new regulatory frameworks under the GENIUS Act.
The firm aims to launch a compliant token, USAT, and has partnered with Rumble, a video platform boasting 51 million monthly users.
Tether holds a significant 48% stake in Rumble after investing $775 million in 2024.
In recent years, Tether faced scrutiny, including a $41 million fine for reserve misrepresentation, but is now working to re-establish itself in the US market.
Tether reported a $4.9 billion profit in Q2, investing reserves in cash-like assets for interest income.
Future ventures include AI, energy, commodities, and a crypto wallet for Rumble's platform supporting USAT and tokenized gold products.
Tether seeks $20 billion for a 3% stake, potentially valuing the company at $500 billion, with plans to develop AI platforms for emerging markets.
