Tether CEO Paolo Ardoino said on Wednesday that the company is evaluating a capital raise from a group of high-profile investors, after a Bloomberg report stated that the stablecoin firm could seek between $15 billion and $20 billion, potentially valuing it at $500 billion.
Ardoino said in a post on X that the move aims to expand Tether’s strategy across stablecoins, distribution, AI, commodity trading, and other areas “by several orders of magnitude.”
The proposed deal would involve the sale of a roughly 3% equity stake, positioning Tether among the world’s most valuable private companies, alongside entities like OpenAI and SpaceX, the Bloomberg report stated on Tuesday.
Tether is the company behind USDT, the world’s largest stablecoin. Launched in 2014, Tether has become widely used for trading, lending, and payments across crypto exchanges.
Ardoino did not disclose further details about the investors or the timeline for the raise.
Source :
https://www.investing.com/news/stock-market-news/tether-ceo-confirms-capital-raise-plans-after-report-of-major-funding-round-4252358
