Tether Eyes $15–20B Private Placement, Valuation Could Reach $500B: Bloomberg

Stablecoin powerhouse Tether is exploring a major private placement, aiming to raise between $15 billion and $20 billion for roughly a 3% equity stake, Bloomberg reported, citing sources familiar with the matter.

If completed at the targeted size, the capital raise would value Tether at approximately $500 billion, putting the company on par with high-profile firms like OpenAI and SpaceX. The company plans to issue new equity, with Cantor Fitzgerald acting as the lead adviser for the transaction.

Tether’s USDT remains the largest stablecoin by market capitalization, currently around $172.8 billion, while Circle’s USDC, which recently went public in the U.S., holds the second-largest market cap at $74 billion, according to CoinMarketCap.

The fundraising news comes on the heels of Tether reporting a net profit of $4.9 billion in Q2 2025. The company also holds over $162.5 billion in reserves against $157.1 billion in liabilities, including roughly $8.9 billion in bitcoin.

Bloomberg noted that discussions are still in the early stages, and the final size of the raise could be significantly lower. Prospective investors have reportedly been given access to a data room over the past few weeks as part of the due diligence process.

Tether has not yet provided a comment on the potential capital raise.