Tether Targets $500 Billion Valuation in Historic Crypto Fundraising Round

Tether Holdings Ltd. is negotiating what could become one of the largest private fundraising rounds in cryptocurrency history. The stablecoin issuer seeks $15-$20 billion from institutional investors at a staggering $500 billion valuation—a figure that would place it among the world's most valuable private companies.

SoftBank Group and Cathie Wood's Ark Invest are in preliminary discussions to acquire roughly 3% of Tether. The deal, advised by Cantor Fitzgerald under new U.S. Commerce Secretary Howard Lutnick, comes as Tether reports $4.9 billion in Q2 profits and prepares to launch its USAT stablecoin for the American market.

The fundraising would cement Tether's dominance as issuer of USDT, the $173 billion market cap stablecoin that underpins crypto trading globally. Strategic hires like former White House advisor Bo Hines signal Tether's ambitions to expand beyond its current offshore operations.