Tether Seeks $20B Funding at $500 Billion Valuation, Dwarfing Circle

Tether is in advanced discussions to raise $15 billion to $20 billion in a private placement, valuing the stablecoin issuer at approximately $500 billion. The funding round, led by Cantor Fitzgerald, would involve new equity and target high-profile investors. This valuation places Tether alongside tech behemoths like OpenAI and SpaceX, far surpassing its closest competitor, Circle, which is publicly traded with a $30 billion market cap.

CEO Paolo Ardoino emphasized the capital WOULD amplify Tether’s expansion across stablecoins, AI, commodity trading, and energy sectors. The firm’s profitability remains staggering—$4.9 billion in Q2 2025 with a 99% margin, fueled by investments in U.S. Treasuries. Despite regulatory scrutiny, Tether’s dominance in the stablecoin market appears unshaken.