Tether targets $500B valuation after $20B funding for spot among most valuable private companies
The post Tether targets $500B valuation after $20B funding for spot among most valuable private companies appeared on BitcoinEthereumNews.com. Tether is looking to raise between $15 billion and $20 billion in private funding, aiming to lock in a valuation near $500 billion, according to Bloomberg. The El Salvador-based crypto giant is offering a 3% stake in the company, though discussions are still in early stages and final numbers could end up lower. If successful, the raise would put Tether alongside the most valuable private companies in the world—like OpenAI and SpaceX—despite being a company in a barely regulated sector. The equity raise would bring in new investors instead of existing shareholders selling their holdings. Cantor Fitzgerald is advising on the deal. But when asked about the plans during a crypto conference in Seoul, Bo Hines, who leads Tether’s U.S. strategy and digital assets division, said flatly, “Tether has no plans to raise money.” Hines gave no further details. Other company reps kept quiet. Cantor also refused to comment on any ongoing deals. Tether outpaces Circle as it cashes in on U.S. Treasuries Tether runs the USDT token, the largest stablecoin by far, with a market cap of $172 billion. It’s tied to the U.S. dollar and way ahead of second-place USDC, which sits at $74 billion and is managed by publicly listed Circle Internet Group Inc. Circle was valued at $30 billion earlier this week, a fraction of what Tether is now targeting. Tether has been stacking profits by investing customer reserves into short-term U.S. Treasuries and other cash-like assets. In Q2, it claimed $4.9 billion in net income. CEO Paolo Ardoino told attendees in Seoul that the company enjoys a 99% profit margin. These numbers aren’t subject to public market standards or outside audits, but they’ve made Tether one of the most profitable players in the space. And unlike Circle, Tether has no interest in going public. Paolo…
The post Tether targets $500B valuation after $20B funding for spot among most valuable private companies appeared on BitcoinEthereumNews.com.
Tether is looking to raise between $15 billion and $20 billion in private funding, aiming to lock in a valuation near $500 billion, according to Bloomberg. The El Salvador-based crypto giant is offering a 3% stake in the company, though discussions are still in early stages and final numbers could end up lower. If successful, the raise would put Tether alongside the most valuable private companies in the world—like OpenAI and SpaceX—despite being a company in a barely regulated sector. The equity raise would bring in new investors instead of existing shareholders selling their holdings. Cantor Fitzgerald is advising on the deal. But when asked about the plans during a crypto conference in Seoul, Bo Hines, who leads Tether’s U.S. strategy and digital assets division, said flatly, “Tether has no plans to raise money.” Hines gave no further details. Other company reps kept quiet. Cantor also refused to comment on any ongoing deals. Tether outpaces Circle as it cashes in on U.S. Treasuries Tether runs the USDT token, the largest stablecoin by far, with a market cap of $172 billion. It’s tied to the U.S. dollar and way ahead of second-place USDC, which sits at $74 billion and is managed by publicly listed Circle Internet Group Inc. Circle was valued at $30 billion earlier this week, a fraction of what Tether is now targeting. Tether has been stacking profits by investing customer reserves into short-term U.S. Treasuries and other cash-like assets. In Q2, it claimed $4.9 billion in net income. CEO Paolo Ardoino told attendees in Seoul that the company enjoys a 99% profit margin. These numbers aren’t subject to public market standards or outside audits, but they’ve made Tether one of the most profitable players in the space. And unlike Circle, Tether has no interest in going public. Paolo…
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