Quick Breakdown
- Tether is exploring a $20B equity raise that could value it at $500B.
- The company reported $4.9B profit in Q2 2025 with $162.5B in reserves.
- Expansion plans include AI, energy, media, and a renewed U.S. presence.
Stablecoin giant Tether is weighing a fundraising deal that could value the company behind USDT at half a trillion dollars.
Tether’s ambitious capital plan
Tether is in early talks with top-tier investors to raise as much as $20 billion. According to a September 23 CNBC report, the move could place the company’s valuation at around $500 billion, ranking it among the world’s most valuable private firms, alongside SpaceX and OpenAI.
Tether is evaluating a raise from a selected group of high-profile key investors, to maximize the scale of the Company\’s strategy across all existing and new business lines (stablecoins, distribution ubiquity, AI, commodity trading, energy, communications, media) by several…
— Paolo Ardoino 🤖 (@paoloardoino) September 24, 2025
CEO Paolo Ardoino confirmed via X that the company is “evaluating a raise” to expand beyond stablecoins into artificial intelligence, commodity trading, energy, communications, and media. The fundraising would involve issuing fresh equity rather than selling existing stakes, with Cantor Fitzgerald advising on the process. Some investors have reportedly begun due diligence, with a possible deal closing before year-end.
Explosive growth and financial strength
Tether’s confidence stems from surging profits and reserves. In Q2 2025, the company reported $4.9 billion in net income, while disclosing $162.5 billion in reserves against $157.1 billion in liabilities. USDT’s market cap has ballooned to $172 billion, more than double Circle’s USDC at $74 billion.
Re-establishing U.S. presence
The fundraising push aligns with Tether’s renewed strategy for the U.S. market. Earlier this month, the company appointed a CEO for its U.S. arm and introduced USAT, a dollar-backed stablecoin designed to comply with the GENIUS Act. Tether has also committed to channeling part of its profits into Bitcoin purchases, strengthening its diversification efforts.
A $500 billion valuation would mark a historic milestone for the stablecoin sector, but is also likely to reignite debate over Tether’s reserve transparency.
Meanwhile, Tether and Circle are in advanced talks with South Korea’s top financial institutions as the nation prepares significant regulatory reforms for stablecoins. Executives from Shinhan Financial Group, Hana Financial Group, KB Financial, and Woori Bank scheduled separate meetings with Tether and Circle’s leadership to explore collaboration opportunities.
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