Softbank and Ark are in discussions to participate in Tether’s major funding round, according to Bloomberg.
Tether, the world’s largest stubcoin issuer, aims to raise up to $20 billion at a valuation of $500 billion.
If successful, the deal will make Tether one of the most valuable private companies in the world, in the same league as companies like Openai and SpaceX. The company aims to raise between $15 billion and $20 billion through private placement, which amounts to about 3% of the company’s total valuation.
The lecture is still in its early stages. The company’s closest competitor, Circle, has a market capitalization of around $30 billion. Tether’s USDT is the largest Stablecoin in the world with a market capitalization of $172 billion. Circle’s USDC ranks second with a market capitalization of approximately $74 billion.
The circles currently listed on the NYSE have won 51% in the last six months.
*This is not investment advice.
