SoftBank and Ark Compete for Tether’s $20 Billion Funding Round: Bloomberg

Investment giants make unprecedented crypto play.

THE STABLECOIN GOLD RUSH

SoftBank and Ark Investment Management are scrambling to secure positions in Tether's massive $20 billion funding round—a move that signals institutional validation for the controversial stablecoin issuer. The participation would mark one of the largest traditional finance injections into crypto infrastructure.

WHY INSTITUTIONS ARE BUYING IN

Both firms see Tether's dominance in daily trading volume as untapped potential despite ongoing regulatory scrutiny. The funding would accelerate Tether's expansion beyond simple dollar-pegged tokens into broader blockchain services. Ark's Cathie Wood previously called stablecoins 'the gateway to decentralized finance' while SoftBank continues doubling down on crypto ventures after early Bitcoin bets.

THE REGULATORY ELEPHANT IN THE ROOM

Neither firm commented on how they're addressing Tether's history with banking partners and reserve transparency issues. Traditional finance veterans whisper about due diligence theater—where everyone pretends to care about risk management until the check clears.

Tether is the “Stable Company”

Plans for a mega funding round comes on the back of Tether appointing Benjamin Habbel as its new chief business officer. Habbel, the co-founder and CEO of private equity firm Limestone Capital, will lead Tether’s organizational growth, as well as the company’s finance, investments, and portfolio expansion efforts.

Tether also recently announced its plans for USAT, a U.S.-regulated stablecoin earmarked for U.S. customers and expected to launch by year-end. Former White House crypto official Bo Hines is Tether USAT’s chief executive officer.

Meanwhile, Tether (USDT), the company’s flagship project, continues to see significant expansion. 

In a recent post on X, Tether CEO Paolo Ardoino said his stablecoin “is building the largest peer-to-peer network of money movement.” He noted that daily wallet-to-wallet USDT transfers stand at over $17.4 billion, accounting for 130x growth since 2020.

“Tether isn’t just a stablecoin company – it’s The Stable Company. We’re building resilient infrastructure, advancing financial sovereignty, and pioneering a future that’s decentralised, resilient, stable, and powered by AI,’ Ardoino added in a statement.