Tether Seeks $20B Funding at $500 Billion Valuation, Dwarfing Circle

Tether is evaluating a raise from “a selected group of high-profile key investors,” to maximize the scale of the company’s strategy across all existing and new business lines, “by several orders of magnitude,” stated CEO Paolo Ardoino on Wednesday.

The stablecoin issuer is looking to raise between $15 billion and $20 billion for a roughly 3% stake through a private placement, reported Bloomberg, citing people familiar with the matter.