Bloomberg reported on September 23, 2025, that Tether is eyeing a $500B valuation through a massive $15-20B raise
Tether Holdings SA, the El Salvador-based issuer of USDT (the world’s largest stablecoin with a $172B+ market cap), is in early-stage talks to secure $15-20B in fresh capital via private placement.
This would involve selling ~3% new equity (not secondary shares from existing holders), implying a potential $500B valuation. In turn, vaulting Tether into the rarified air of private giants like OpenAI ($157B last round) and SpaceX ($210B).
Sources, including Bloomberg and CoinDesk, stress the deal’s preliminary nature, with terms fluid as due diligence unfolds. A year-end close is targeted.
Chief Executive Officer Paolo Ardoino later confirmed that the firm is raising cash for expansion in areas from artificial intelligence to commodity trading.
How is Cantor Fitzgerald working with Tether?
In November 2024 Cantor Fitzgerald negotiated a 5% ownership interest in Tether.
Cantor Fitzgerald is advising lead investors in the deal. This positions the firm for advisory fees plus a windfall on their holdings (a ~42x ROI from last year’s ~$600M investment).
X erupted with a mix of moonshot hype and sharp skepticism—threads dissecting Cantor’s “insider” edge under Trump (ex-CEO Howard Lutnick as Commerce Sec) and Tether’s regulatory baggage.
Tether’s Momentum: Profits & Expansion
Tether’s not just coasting on USDT—it’s a profit machine ($5.7B in 2025, outpacing many tech firms per employee).
Ardoino’s vision: Scale into AI (AI integrations with DeepSeek), energy/commodities trading, and a U.S. relaunch with regulated USAT stablecoin for instant settlements/low fees—partnering with Cantor and Anchorage Digital.
This raise could bankroll that, especially post-$41M 2021 CFTC fine for reserve misstatements (they now publish daily attestations and eye a full audit).
Author: Andy Samu
See Also:
Tether’s US Expansion with USA₮ Stablecoin | Disruption Banking
Tether’s Big Bet: Stablecoins as the New Global Reserve Power | Disruption Banking
