Tether Considers Raising Up to $20 Billion at a $500 Billion Valuation, Reports Say

On the 23rd, Bloomberg reported that Tether Holdings, the world's largest issuer of stablecoins, is in discussions with investors to raise up to $20 billion. The company aims to raise between $15 billion and $20 billion in exchange for approximately 3% of its shares. According to the report, this transaction could bring the company's valuation to about $500 billion, potentially aligning it with OpenAI and Elon Musk's SpaceX. This would significantly exceed the market capitalization of its direct competitor, Circle Internet Group, which is valued at approximately $30 billion. Tether's digital assets and U.S. strategy advisor, Beau Haines, stated...