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Tether In Talks For $20B Fundraising That Could Value Crypto Giant At Half A Trillion Dollars, Rivaling OpenAI And SpaceX
Benzinga
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4 months ago
Tether is in talks to raise up to $20B at a $500B valuation, potentially ranking it among the world’s most valuable private firms. The stablecoin issuer dominates the $172B market and is eyeing a U.S. return under Trump’s pro-crypto stance.
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00:00
It's Benzinga, bringing Wall Street to Main Street.
00:02
Tether Holdings SA is in early talks with investors to raise as much as $20 billion
00:06
in a private placement that could value the world's largest stablecoin issuer
00:10
at around $500 billion, according to Bloomberg.
00:12
The El Salvador-based company is seeking between $15 billion and $20 billion
00:16
in exchange for a roughly 3% stake, with Canada Fitzgerald advising on the deal.
00:20
If completed, the transaction would rank Tether alongside OpenAI and SpaceX
00:24
as one of the world's most valuable private firms.
00:27
Fundraising comes as Tether seeks to return to the U.S. under Trump's pro-crypto administration
00:31
after years of regulatory clashes.
00:34
Tether's USDT token, worth $172 billion, dominates the stablecoin market,
00:40
generating billions in profits from reserves invested in treasuries.
00:43
The company posted $4.9 billion in profit in Q2 and has climbed margins as high as 99%,
00:49
though its figures are not subject to public company standards.
00:51
For all things money, visit Benzinga.com.
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