Tether Holdings, issuer of the largest stablecoin USDT, is in early talks to raise between $15–20 billion by selling roughly 3% of new equity, which would imply a valuation near $500 billion.
- El Salvador-based company
- With USDT’s market capitalization at $172 billion, well ahead of Circle’s $74 billion USDC, the deal would mark one of the largest fundraising efforts in crypto history
- Discussions are still at an early stage and terms could change
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A $500B valuation would cement Tether’s dominance, though scrutiny over reserves could intensify.
- Circle’s $74B USDC looks dwarfed, highlighting widening market share gaps
- If successful, the deal would rank among the largest private raises in the sector.
