Tether is reportedly pressing investors to commit to a major fundraising round at a $500 billion valuation within the next two weeks, warning that the effort could be delayed if demand falls short. The El Salvador based company has been seeking fresh capital since late last year, but some investors remain cautious about the high valuation target.
If achieved, the proposed valuation would position Tether among the world’s largest financial firms. The figure would place the company ahead of every United States bank except JPMorgan Chase, which has a market capitalization of about $794.55 billion, and above Bank of America, valued at roughly $352.86 billion.
Earlier discussions suggested Tether could raise between $15 billion and $20 billion through a private placement, offering about a 3% stake. Cantor Fitzgerald was identified as a lead adviser in those early planning stages.
CEO Paolo Ardoino Defends Valuation and Expansion Strategy
Chief Executive Officer Paolo Ardoino previously stated that the company was considering raising funds from a select group of investors to accelerate growth across both existing and new business lines. These areas include stablecoins, distribution networks, artificial intelligence, commodity trading, energy, communications, and media.
Although earlier estimates of a $15 billion to $20 billion raise were later described as hypothetical scenarios rather than a confirmed plan, Ardoino continued to defend the $500 billion valuation. He compared the company’s profitability potential to major artificial intelligence platforms.
USDt Market Cap and Audit Efforts Gain Attention
Tether’s USDt stablecoin remains the company’s largest product, with a market capitalization of approximately $184 billion. Other key offerings include Tether Gold (XAUt) and Tether EURt (EURt), which are pegged to gold and the euro respectively.
Separately, Tether has reportedly hired KPMG to conduct its first full audit of USDt financial statements, while PwC is assisting in preparing internal systems. The comprehensive audit is expected to examine assets, liabilities, and internal controls, going beyond the reserve attestations previously conducted by BDO Italia.
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