Tether Seeks Up To $20 Billion Funding At $500 Billion Valuation Rivalling OpenAI And SpaceX
Tether is in talks with investors to raise $15 billion to $20 billion in new funding that could value the largest stablecoin issuer at around $500 billion, putting it in the same league as titans like OpenAI and SpaceX. The private placement would involve issuing new equity, with Cantor Fitzgerald advising on the process, and give investors a stake of about 3% in the company, Bloomberg reported, citing two people familiar with the matter. They cautioned that the final raise could be significantly smaller as talks are in the early stages. If successful, the deal would rank among the largest private financings ever, and highlights the company’s bid to dominate stablecoins even as rivals such as Circle expand. “Tether is evaluating a raise from a selected group of high-profile key investors, to maximize the scale of the Company’s strategy across all existing and new business lines (stablecoins, distribution ubiquity, AI, commodity trading, energy, communications, medi...