USDT stablecoin issuer Tether to sell $20 billion in shares
A stablecoin market behemoth Tether plans to attract additional funding in the amount of $15 billion to $20 billion.
Two people familiar with the situation said the company’s employees are considering selling approximately 3% of the company’s shares privately. A third source noted that the amount of securities sold could be much smaller, in which case the investment would not even reach $15 billion.
If Tether receives $20 billion, then its capitalization level will reach approximately $500 billion. According to this indicator, the issuer of stablecoins will be on par with the developer ChatGPT OpenAI and will leave Elon Musk’s space company SpaceX, whose market capitalization is estimated at $464,71 billion, far behind. And its main competitor Tether In the dollar-pegged stablecoin market, Circle is nowhere near the size of USDT’s creator, with a market capitalization of only $30 billion.
The next step will be an initial public offering in the US. «Goodbye, Circle,» businessman Arthur Hayes commented on the news.
Arthur Hayes
CEO Tether Paolo Ardoino admitted that his company’s management is indeed considering raising funds to scale its business strategy and create new products in the areas of stablecoins, artificial intelligence, commodity trading, energy, communications, and media. To achieve this, the company could issue new shares and sell them to major investors.
