Venezuelan Bolivar and U.S. Dollar banknotes and representations of cryptocurrency Tether are seen in this illustration taken Sept. 8, 2025.
Dado Ruvic | Array
Tether, the issuer of the most important stablecoin, is planning to raise as a lot as $20 billion in a deal that would put the crypto firm’s worth on par with OpenAI, in accordance with a report from Bloomberg News.
The crypto firm is seeking to raise between $15 billion and $20 billion in change for a roughly 3% stake via a personal placement, the report stated, citing two people conversant in the matter. The transaction would contain new fairness fairly than current traders promoting their stakes, the folks advised the information service.
The report stated that one particular person near the matter warned that the talks are in an early stage, which implies that the eventual particulars, together with the scale of the providing, might change.
However, the deal might in the end worth Tether at round $500 billion, in accordance with the report. That would imply the crypto big’s valuation would rival a few of the world’s largest personal corporations, together with SpaceX and OpenAI. OpenAI’s fundraising round earlier this year valued the tech firm at $300 billion.
Tether, which was as soon as accused of being a legal’s “go-to cryptocurrency,” has been furthering its plans to return to the U.S. in latest months, given President Donald Trump’s pro-crypto stance. The firm earlier this month named a CEO for its U.S. enterprise and launched a new token for companies and establishments in the U.S. known as USAT, which will likely be regulated in the U.S. below the GENIUS Act.
Stablecoin USD Tether (USDT) is pegged to the U.S. greenback with a market cap that lately surpassed $172 billion. In second place is Tether rival Circle’s USDC stablecoin, which is value about $74 billion.