Tether Holdings, the biggest stablecoin company, is preparing a major fundraising round that could make it one of the world’s most valuable private firms. The company is seeking between $15 billion and $20 billion for a three percent stake, according to Bloomberg.
Meanwhile, SoftBank Group and Ark Investment Management are in early talks to join the round. If successful, the deal could value Tether at $500 billion, placing it in the same league as the largest private companies worldwide.
SoftBank, led by Masayoshi Son, is known for bold bets on technology such as semiconductors and self-driving cars. Ark Invest, led by Cathie Wood, has backed crypto firms before. Wood’s firm previously invested in Circle, a major competitor to Tether, and recently supported a $300 million Solana treasury project.
Cantor Fitzgerald is advising Tether on the deal and also acts as custodian of the company’s assets. The investment bank has been led for years by Howard Lutnick, who now serves as U.S. Commerce Secretary. His role highlights Tether’s growing links to Washington.
The fundraising effort comes as Tether seeks stronger ties with traditional finance. Notably, the company is also preparing to launch a new U.S.-based stablecoin called USAT, with Bo Hines as chief executive. This move shows its plan to reach regulated markets.
Tether is run by Chief Executive Paolo Ardoino and co-founder Giancarlo Devasini, who is also the chairman and its biggest shareholder. Bloomberg reported Devasini’s stake could be worth $224 billion if the fundraising succeeds, a fortune larger than Warren Buffett’s.
That said, Tether’s USDT token has more than $173 billion in circulation and is used globally to transfer value outside traditional banks. By investing reserves in U.S. Treasuries, the company earns billions in interest. If completed, the fundraising would be among the largest in the crypto sector.
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