TLDR
- Tether seeks $15-20 billion funding at $500 billion valuation from investors including SoftBank and Ark Invest
- The deal would give investors roughly 3% stake in the world’s largest stablecoin issuer
- Tether’s USDT has $173 billion market cap and the company reported $4.9 billion Q2 profits
- Cantor Fitzgerald advises the deal, led by new U.S. Commerce Secretary Howard Lutnick
- Tether plans U.S. market entry with USAT stablecoin and hired former White House advisor Bo Hines
Tether Holdings is preparing for one of the largest fundraising rounds in crypto history. The stablecoin issuer is seeking between $15 billion and $20 billion from investors.
The funding round would value Tether at approximately $500 billion. This valuation would place the company among the world’s most valuable private firms.
SoftBank and Ark are among potential investors in a major funding round that could cement Tether’s status as one of the world’s largest private companies https://t.co/LEx5krbXUa
— Bloomberg (@business) September 26, 2025
SoftBank Group and Ark Investment Management are in early talks to participate in the deal. Both investment firms have extensive experience backing technology companies.
SoftBank, led by Masayoshi Son, has invested heavily in semiconductors and artificial intelligence. Ark Invest, managed by Cathie Wood, previously invested in Circle, which competes directly with Tether.
Investors would receive roughly 3% of the company in exchange for their investment. The deal represents one of the largest crypto funding rounds ever attempted.
Tether’s Market Position and Financial Performance
Tether operates the world’s largest stablecoin, USDT, with a market capitalization of $173 billion. The company generates revenue by investing customer funds in short-term U.S. Treasuries.
Rising interest rates have boosted Tether’s profits over recent years. The company reported $4.9 billion in profits during the second quarter of 2025.
Circle, which issues the second-largest stablecoin USDC, went public in June 2025. Circle’s stock price jumped from around $30 to $300, showing strong investor appetite for stablecoin exposure.
The stablecoin sector has grown 40% year-to-date to $287 billion in total market value. Analysts at Citi project stablecoins could reach $4 trillion in market value during a bull market scenario.
U.S. Market Expansion Plans
Tether announced plans to enter the U.S. market with a new stablecoin called USAT. The token is designed to meet requirements of the GENIUS Act, the nation’s first federal crypto law.
The company hired Bo Hines to lead its U.S. division. Hines previously served as director of the White House Crypto Council under President Donald Trump.
Tether has historically focused on serving emerging markets with limited U.S. dollar access. The U.S. expansion represents a shift toward regulated markets.
Cantor Fitzgerald is advising Tether on the fundraising deal and serves as custodian of the company’s assets. Howard Lutnick, who leads Cantor Fitzgerald, recently became U.S. Commerce Secretary.
If successful, co-founder Giancarlo Devasini could see his personal fortune grow dramatically. Bloomberg estimates his stake could be worth around $224 billion, surpassing Warren Buffett’s net worth.
The U.S. Commodity Futures Trading Commission recently launched a stablecoin collateral initiative for derivatives markets. This move signals growing regulatory acceptance of digital assets in traditional finance.
