Venezuelan Bolivar and U.S. Dollar banknotes and representations of cryptocurrency Tether are seen in this illustration taken Sept. 8, 2025.
Dado Ruvic | ArrayTether, the issuer of the largest stablecoin, is planning to raise as much as $20 billion in a deal that could put the crypto company's value on par with OpenAI, according to a report from Bloomberg News.The crypto company is looking to raise between $15 billion and $20 billion in exchange for a roughly 3% stake through a private placement, the report said, citing two individuals familiar with the matter.
The transaction would involve new equity rather than existing investors selling their stakes, the people told the news service.The report said that one person close to the matter warned that the talks are in an early stage, which means that the eventual details, including the size of the offering, could change.
However, the deal could ultimately value Tether at around $500 billion, according to the report.
That would mean the crypto giant's valuation would rival some of the world's biggest , including SpaceX and OpenAI.
OpenAI's fundraising round earlier this year valued the company at $300 billion.Tether, which was once accused of being a criminal's "go-to cryptocurrency," has been furthering its plans to return to the U.S.
in recent months, given President Donald Trump's -crypto stance. The company earlier this month named a CEO for its U.S. and launched a new token for es and institutions in the U.S.
called USAT, which will be regulated in the U.S. under the GENIUS Act.Stablecoin USD Tether (USDT) is pegged to the U.S. dollar with a market cap that recently surpassed $172 billion.
In second place is Tether rival Circle's USDC stablecoin, which is worth $74 billion.Don’t miss these insights from CNBC Market track record is flawless when the Fed cuts rates with S&P 500 near record highFed rate cuts will make dividend stocks more appealing for income investors.
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