Stablecoin Giant Tether Valued at $500 Billion
Tether Holdings is reportedly considering a fundraising round of up to $20 billion that could value the stablecoin issuer at about $500 billion, placing it among the most valuable private companies in the world.
Bloomberg, citing people familiar with the matter, reported that Tether is exploring raising between $15 billion and $20 billion in exchange for roughly a 3% stake through a private placement, with Cantor Fitzgerald acting as lead adviser. One source noted that the final amount could end up being considerably lower, as discussions are still in the early stages.
For context, OpenAI — the creator of ChatGPT — has also been linked to fundraising talks at a $500 billion valuation, according to The New York Times.
Tether’s profitability and growth
Though less of a household name than OpenAI, Tether has quietly become one of the most profitable firms globally on a per-employee basis. The company reported $4.9 billion in profit in the second quarter of 2025 alone, pushing its year-to-date earnings to $5.7 billion.
When asked for comment, Tether had not responded by the time of publication. However, Bloomberg reported that Bo Hines, the new CEO of Tether USAT — the U.S.-focused arm — stated at a Seoul conference that the company has no current plans to raise additional funds.
Tether’s market dominance
Tether’s USDT remains the largest dollar-backed stablecoin in circulation, with a market capitalization of $172.8 billion, giving it about 56% of the global stablecoin market worth $307.2 billion.
Stablecoin adoption has accelerated worldwide, offering cheaper and faster money transfers while expanding access to financial services. In the U.S., the newly passed GENIUS stablecoin bill is aimed at cementing the dollar’s role as the leading reserve currency by setting clear regulatory standards for issuers.
Other companies are also securing high valuations in this space. Circle Internet Group, the issuer of USDC, went public earlier this year and surged more than 160% on its debut, reaching a valuation of $18 billion. Its market value has since grown to nearly $33 billion.
Sources:
https://www.nytimes.com/2025/08/19/technology/openai-chatgpt-stock-sale-valuation.html
https://cointelegraph.com/news/tether-20b-fundraise-500b-valuation-report