Tether, the issuer of the world’s largest stablecoin, has no plans to go public, even amid rising speculation about its valuation reaching $515 billion, according to CEO Paolo Ardoino.
A Half-Trillion Dollar Valuation?
The speculation began after Artemis CEO Jon Ma estimated Tether’s company valuation at around $515 billion, a figure that would rank it as the 19th largest company globally, surpassing giants like Costco and Coca-Cola.
In response, Ardoino posted on X:
“Tether valuation at $515 billion is a beautiful number. Maybe a bit bearish considering our current (and increasing) Bitcoin + Gold treasury, yet I’m very humbled.”
“Also truly excited for the next phase of growth of our company.”
No IPO in Sight
Despite growing public interest and the landmark success of Circle’s IPO, Ardoino made it clear that Tether has no intention of becoming a publicly traded company.
“Tether has no need to go public,” he emphasized, suggesting that the company remains financially independent and growth-focused without the constraints of public shareholders.
This contrasts sharply with Circle’s recent IPO, which saw its USDC stablecoin issuer debut on the New York Stock Exchange at $69 per share—a 122% gain from the IPO price of $31. Just two days later, the stock surged above $123, a gain of nearly 300%.
Tether’s Quiet Strength
Tether continues to dominate the stablecoin market with USDT, widely used across crypto exchanges, DeFi platforms, and as a trading pair for digital assets. The company also holds a substantial treasury in Bitcoin and gold, adding further resilience to its balance sheet.
Tether’s strong treasury and self-sustained model reinforce Ardoino’s confidence in staying private.
While most companies would view a half-trillion-dollar valuation as a green light to go public, Tether appears content operating under the radar, focusing instead on infrastructure, asset reserves, and expansion in global markets.
What’s Next for Tether?
As Ardoino teases the “next phase of growth,” the stablecoin issuer seems focused on strengthening its position in digital asset infrastructure rather than chasing IPO hype.
With its valuation soaring and reserves growing, Tether is doubling down on independence over visibility.