Tether, the world’s largest stablecoin issuer, is preparing for a private fundraising round that could raise as much as $20 billion, potentially valuing the company at $500 billion and placing it among the most valuable private firms globally.
? Community Insight: Stablecoin Valuations Under Spotlight
Tether eyes a raise at a $500B valuation, while Circle trades at just ~$30B.
Is Circle underestimated — or is Tether rewriting stablecoin dominance? How would stablecoin issuers' revenue survive after rate-cut?
? High… pic.twitter.com/VRpdDYh754— SoSoValue (@SoSoValueCrypto) September 24, 2025
The move comes as Tether intensifies its return to the U.S. market, taking advantage of relatively favorable regulatory conditions and signaling growing institutional investor confidence in crypto.
Tether’s Expanding Footprint
According to Bloomberg, citing sources familiar with the matter, Tether is in early talks to raise between $15 billion and $20 billion via private placement. The round would involve issuing roughly 3% of the company’s equity, with Wall Street firm Cantor Fitzgerald acting as advisor. The deal could close by the end of 2025, though terms remain subject to change.
Tether’s USDT stablecoin has continued its rapid expansion in 2025, with more than $20 billion newly issued since January. As of June, circulating supply surpassed $157 billion, cementing its dominance in the market.
The company also reported a Q2 2025 net profit of $4.9 billion and holds more than $127 billion in U.S. Treasuries, making it one of the largest holders of U.S. government debt worldwide.
No IPO Plans Despite Soaring Valuation
Despite comparisons with competitors like Circle, analysts estimate that a public listing could value Tether at around $515 billion. However, CEO Paolo Ardoino stressed that Tether has no plans for an IPO, saying the company will remain private.
On X (formerly Twitter), Ardoino confirmed discussions with “renowned, well-capitalized strategic investors” and emphasized that funds will strengthen Tether’s influence in stablecoins, global distribution networks, artificial intelligence, commodities trading, energy, telecom, and media.
Tether Ventures and Diversification
Tether Ventures, the company’s investment arm, manages over $14 billion in assets across multiple industries. This showcases Tether’s strategy of deploying significant private capital without relying on public markets.
If successful, this private raise would mark a major inflection point for both Tether and the broader stablecoin industry, underscoring growing institutional appetite for digital-dollar infrastructure.
