The stablecoin issuer is seeking investors for a fundraising round that could place it among the world’s most prominent private companies.
According to Bloomberg reports, Tether is negotiating with potential investors for a fundraising round. The company behind the USDT stablecoin is reportedly aiming to raise between $15 billion and $20 billion by selling approximately 3% of the company, which would imply an estimated valuation of around $500 billion.
This would position the stablecoin issuer among the most significant private companies globally, alongside tech giants like Sam Altman’s OpenAI and Elon Musk’s SpaceX.
Cantor Fitzgerald’s role in the valuation
Anonymous sources cited by Bloomberg indicate that Cantor Fitzgerald is acting as the lead advisor for this potential financial operation. The investment firm, formerly led by Howard Lutnick (now U.S. Secretary of Commerce under the Trump administration), already holds a 5% stake in Tether, acquired for roughly $600 million.
If Tether’s valuation indeed reaches the projected $500 billion, Cantor Fitzgerald’s stake would be worth around $25 billion.
The potential transaction would involve the issuance of new shares rather than the sale of existing ones.
USDT dominates the stablecoin market
Based in El Salvador, Tether maintains its leadership in the stablecoin sector through USDT, which has a market capitalization of $172 billion. The company recently announced plans to launch a new stablecoin (USAT) specifically targeting the U.S. market.
Tether’s main competitor is Circle Internet Group, issuer of USDC with a market capitalization of $74 billion. Circle, recently listed on the stock market via IPO, currently has a valuation of approximately $30 billion.
