Tether, the company behind the world’s largest stablecoin USDT, is exploring a massive fundraising round that could value the firm at half a trillion dollars.
Talks of a Historic Raise
According to a September 23 report from CNBC, Tether is in early discussions with a small group of prominent investors to raise as much as $20 billion. CEO Paolo Ardoino later confirmed on X that the company is “evaluating a raise” to fuel its expansion strategy.
Rather than selling existing shares, Tether is considering issuing new equity. The capital would help the company scale beyond stablecoins into areas such as artificial intelligence, energy, commodity trading, communications, and media.
If the deal goes through, it would place Tether in the same league as SpaceX and OpenAI, ranking it among the world’s most valuable private firms. However, sources noted that talks are still preliminary, and the final raise could be smaller. Investment bank Cantor Fitzgerald is advising on the transaction, with some investors already reviewing data ahead of a potential close by year-end.
Explosive Financial Growth
Tether’s ambitious fundraising comes on the heels of strong financial performance. In Q2 2025, the company reported $4.9 billion in net profit and revealed it holds $162.5 billion in reserves against $157.1 billion in liabilities.
Meanwhile, USDT’s market capitalization has surged to $172 billion, dwarfing its closest competitor, Circle’s USD Coin (USDC), which stands at $74 billion. This dominance has given Tether a firm grip on the stablecoin market, even as regulators increase scrutiny on reserve transparency.
U.S. Comeback and New Products
The fundraising also aligns with Tether’s renewed push into the U.S. market. Earlier this month, the company appointed a CEO for its American arm and introduced USAT, a U.S. dollar–backed stablecoin set to be regulated under the GENIUS Act.
Tether has also pledged to allocate a portion of its profits to Bitcoin purchases, part of a broader diversification plan to strengthen its balance sheet.
Bottom Line
If completed, Tether’s proposed $20 billion raise at a $500 billion valuation would mark a watershed moment for both the company and the stablecoin sector at large. Such a milestone would underscore Tether’s dominance but also reignite questions around its reserve practices and long-term transparency.
