Stablecoin giant Tether reaches $500B valuation, matching the financial strength of leading tech companies

Tether, the company behind the world’s most widely used stablecoin

, is reportedly aiming to secure between $15 billion and $20 billion in a private funding round, which would put its valuation near $500 billion, according to several sources Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ] Tether reportedly planning to raise up to $20 billion at roughly $500b valuation [ 2 ]. This capital raise, which would involve issuing new shares rather than selling current ones, is still in its early phases, with potential backers being given access to a data room to review details Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ]. Cantor Fitzgerald is acting as the primary advisor Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ].

If achieved, this valuation would rank

among the world’s most valuable private firms, putting it on par with companies like OpenAI and SpaceX Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ] Tether reportedly planning to raise up to $20 billion at roughly $500b valuation [ 2 ]. In the second quarter of 2025, the stablecoin leader posted a net profit of $4.9 billion, holding $162.5 billion in reserves against $157.1 billion in liabilities Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ]. Among its reserves, Tether holds $8.9 billion in , highlighting its broad asset portfolio Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ]. This fundraising would inject substantial new capital into a business that has long operated under regulatory scrutiny and with limited financial transparency Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ].

At present, Tether’s USDT boasts a market cap of $172.8 billion, far surpassing its nearest rival, Circle’s

, which stands at $74 billion Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ]. USDT’s dominance is further cemented by its presence on 13 different blockchain platforms, such as , , and , with more than 10.7 million active wallets as of March 2025 Tether Statistics 2025: In-Depth Analysis of USDT's Performance [ 3 ]. This fundraising effort fits into Tether’s broader ambitions to strengthen its foothold in both conventional finance and decentralized sectors, as shown by its recent expansion into AI and plans for a U.S.-centric stablecoin Tether Statistics 2025: In-Depth Analysis of USDT's Performance [ 3 ].

Experts point out that Tether’s valuation is largely driven by its ability to generate income from interest on U.S. Treasuries and other secure assets. The company’s Q2 2025 results reveal a $4.9 billion net profit, fueled by $90.87 billion in U.S. Treasury holdings and $5.37 billion in bitcoin reserves Tether Statistics 2025: In-Depth Analysis of USDT's Performance [ 3 ]. Still, the outcome of the capital raise will depend on regulatory and market factors, and the final sum could end up “substantially lower” than the upper target Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ].

This valuation also puts Tether in direct rivalry with other leading private tech companies. For example, OpenAI is currently negotiating a $6 billion secondary share sale at a similar $500 billion valuation, while SpaceX and Anthropic are each valued at $170 billion. Tether’s fundraising highlights the increasing influence of stablecoin providers, which now serve as essential infrastructure for the global crypto economy.

Despite its commanding position, Tether continues to grapple with legal and image-related issues, including a 2021 settlement with the CFTC over misleading information about its reserves Tether Statistics 2025: In-Depth Analysis of USDT's Performance [ 3 ]. The company has since worked to improve transparency by releasing monthly reserve reports and appointing a CFO to oversee a comprehensive audit Tether Statistics 2025: In-Depth Analysis of USDT's Performance [ 3 ]. These initiatives are intended to address ongoing doubts about its financial practices and governance.

The statement ends by noting that Tether has not yet issued a response to requests for comment Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B [ 1 ]. Should the fundraising go ahead, it would represent a major turning point for the stablecoin sector, indicating a growing acceptance of crypto infrastructure as a mainstream asset class among institutions.