Tether, the firm behind the USDT stablecoin, is considering a major private fundraising effort, CEO Paolo Ardoino said. The company, based in El Salvador, is exploring a deal to raise $15 billion to $20 billion in exchange for approximately 3% equity.
Bloomberg reported the talks on Wednesday, citing people familiar with the matter, and Ardoino later posted that Tether is talking with a small group of high-profile investors.
The move aims to boost growth across several business lines. The deal would involve new shares, not existing owners selling their stakes.
Planned fundraising and valuation
Sources told Bloomberg the offer could imply a value near $500 billion. If true, that would place Tether among the most highly valued private firms.
The discussions are early, and that means the final size and terms could change. The report said people close to the talks warned that the details are not set.
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CEO confirmation and goals
Ardoino confirmed the fundraising plan on his X(Twitter) account. He said the funds would boost Tether’s work across stablecoins, wider distribution, artificial intelligence, commodity trading, energy, communications and media.
He framed the raise as a way to expand several business lines at once. The company has not given a full public breakdown of how new capital would be used.
Market context
Tether’s USDT is pegged to the U.S. dollar and has a market cap that has topped $172 billion.
Circle’s USDC is its main rival and has a listed market cap of $74 billion. They underline the gap between the two firms. Still, Circle remains the closest competitor to Tether in the stablecoin market.
Publicly listed Circle Internet Group (CRCL) has a market capitalisation of $32.876 billion, while Tether plans to raise funds at a valuation of $500 billion. The massive valuation difference between the two of stablecoin makers may seem alarming, and Tether’s $500 billion valuation would raise concerns among investors.
Profitability and attention
UnoCrypto reported that Tether may be the most profitable company per employee in history, with an estimated $13 billion in yearly profit. That level of profit has drawn notice from both global investors and regulators. Observers say Tether’s lean structure and key role in crypto trading make the company a focus for scrutiny.
Tether has also faced harsh criticism in the past, and the firm was once described as a criminal’s “go-to cryptocurrency.” In recent months, Tether has tried to move closer to the U.S. market.
The company named a CEO for its U.S. business and planned a U.S.-regulated unit called USAT, which would fall under the GENIUS Act rules, according to the materials you shared. Tether also appointed Bo Hines, a former White House crypto official, to lead U.S. efforts.
If the $500 billion valuation holds, Tether would rival private giants such as SpaceX and OpenAI. The report noted OpenAI’s earlier round valued that company at $300 billion.
The comparison has stirred fresh debate about how to value crypto companies and how large private firms should be priced.
What comes next?
People involved say talks are at an early stage, and that means investors and the market should expect shifts to the plan. Any final deal will need approvals and careful checks, given Tether’s public profile. The company has said it is speaking with a select group of investors, and no final deal is in place yet.
Tether’s fundraising plan, if completed near the reported size, would reshape the firm’s public standing. It would also test investor appetite for huge crypto-era deals.
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