$20 billion raise could place Tether alongside OpenAI and SpaceX.
Tether, the issuer of the world’s largest stablecoin USDT, is reportedly in talks to raise as much as $20 billion in a deal that could value the firm at a staggering $500 billion.
According to a Bloomberg report, the El Salvador-based issuer of USDT is seeking between $15 billion and $20 billion in a private placement for roughly a 3% stake.
Investment bank Cantor Fitzgerald is reportedly advising on the deal, while potential backers have been granted access to the company’s data. Sources cautioned that talks remain early and terms could shift, but a deal could close by the end of the year.
If successful, the valuation would put Tether in the same league as OpenAI and SpaceX, signaling the rapid rise of stablecoins from a niche corner of crypto into mainstream finance. The push comes at a time when U.S. lawmakers, under the Trump administration, have taken a more favorable stance toward digital dollars through the GENIUS Act, which legalized the issuance and trading of stablecoins.
Tether has recently signaled ambitions beyond USDT. In July, CEO Paolo Ardoino outlined plans for USAT, a U.S.-specific stablecoin to be led by former White House digital assets official Bo Hines.
The fundraising push follows a period of record profitability. Tether reported $5.7 billion in net profit in the first half of 2025 alone, with reserves backed by U.S. Treasuries, Bitcoin, and gold.
USDT, with a market capitalization of $172 billion, continues to dominate the sector, more than twice the size of its rival, Circle’s USDC.
A $500 billion valuation would cement Tether’s role as a systemically significant player in global finance.
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