The industry’s largest stablecoin issuer, Tether (USDT), is reportedly in discussions with a series of leading firms including SoftBank Group and Ark Investment Management, for a significant funding round aimed at raising between $15 billion and $20 billion.
This capital influx could potentially value the company at an astonishing $500 billion. Bloomberg News first reported these developments, indicating that Tether is exploring private placement opportunities to solidify its position in the market.
Amidst this search for funding, Tether is also expanding its investment horizons beyond digital assets, venturing into sectors such as artificial intelligence (AI), telecommunications, cloud computing, and real estate.
Adding to the momentum, Tether recently appointed Bo Hines, a former advisor to President Trump on cryptocurrency matters, as CEO of its US division.
This move aligns with Tether’s vision to establish a new operation in the US, adhering to the new regulatory environment, particularly following the introduction of a new dollar-pegged cryptocurrency aimed at businesses and institutions, dubbed “USAT.”
Paolo Ardoino, Tether’s CEO, noted that the firm’s USDT stablecoin serves as a crucial financial tool for millions in emerging markets, showcasing how digital assets can foster trust, resilience, and financial freedom on a global scale.
Featured image from DALL-E, chart from TradingView.com
