The representation of Venezuelan bolivar and US dollar bills and cryptocurrency tethers can be seen in this illustration, taken on September 8, 2025.
Dado Ruvic | Array
Tether, the world’s largest stubcoin issuer, confirmed that CEO Paolo Ardoino is valuing a major funding round in a transaction reportedly could potentially equal the value of Crypto Company with Openai.
According to a report from Bloomberg News on Wednesday, the Salvador-based company is looking to raise between $15 billion and $20 billion in shares for about 3% of its shares through private placements.
Shortly after that report, Ardoino confirmed his fundraising plan in his official X account, saying that Tether “is assessing salary increases from a selected group of well-known major investors.”
The funding will “maximise the scale” of Tether’s strategy across existing and new business lines, he added. These business lines include stubcoins, ubiquitous distribution, artificial intelligence, commodity trading, energy, communication and media.
The deal includes new shares rather than existing investors selling the shares, sources told Bloomberg.
One person close to the issue said he warned that consultations were in early stages, according to the report.
However, the transaction could ultimately be valued at around $500 billion, according to the report. That means Crypto Giant’s rating is comparable to some of the world’s largest private companies, including SpaceX and Openai. Earlier this year, Openai’s funding round valued the tech company at $300 billion.
Once accused of being a criminal’s “good cryptocurrency,” Tether has been promoting plans to return to the US in recent months, taking into account President Donald Trump’s pro-crypto stance. The company was appointed CEO of US businesses and US businesses and agencies earlier this month, called the USAT and will be regulated in the US under the Genius Act.
Stablecoin USD Tether (USDT) has recently been pinned in the US dollar with a market capitalization of over $172 billion. Second place is Tether Rival. circle USDC Stablecoin, which is worth around $74 billion.
