According to the Financial Times of the UK, the issuer of the stablecoin USDT, Tether, has withdrawn its previous fundraising plan, which was interpreted by the outside world as potentially reaching up to $20 billion. Tether CEO Paolo Ardoino stated that the estimated valuation of $500 billion mentioned by others is not an official target of the company, but merely a theoretical maximum price range.
Several insiders revealed that, following a more cautious response from potential investors, Tether’s advisory team (including institutions like Cantor Fitzgerald) has advised the company to reduce the actual fundraising amount to approximately $5 billion. Negotiations are still ongoing, but the final amount of equity to be sold has not been finalized, and some internal sources remain cautious about dilution of ownership.
As early as September 2025, reports indicated that Tether was engaging in early discussions with multiple parties about raising external funds through issuing new shares, rather than selling existing equity. The increased interest in this round of discussions is closely related to the gradual clarification of US stablecoin legislation and the successful listing of its main competitor, Circle. However, some institutions remain cautious about Tether’s potential compliance and regulatory risks.
On the operational front, Tether’s profits in 2025 declined year-over-year. Ardoino attributed this to weak Bitcoin performance in the previous quarter, as well as the company’s increased allocation to high-volatility assets like Bitcoin and gold, which also led S&P Global Ratings to downgrade its reserve rating to the lowest level.
Despite these challenges, USDT continues to hold a central position in the stablecoin market, with a latest market cap exceeding $185 billion. Meanwhile, Tether has been steadily increasing its gold holdings in recent months, generating approximately $8 billion to $10 billion in book gains during periods of rising precious metal prices.
With changes in regulation, market sentiment, and the capital environment, the next move in this stablecoin giant’s fundraising efforts will continue to influence the entire crypto industry.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Tether-linked Super PAC’s first $300,000 spending went to a company co-founded by the CEO, allegedly involving pay-to-play and favoritism.
A super political action committee affiliated with Tether filed paperwork with the U.S. Federal Election Commission showing that its first $300k expenditure went to Nxum Group, founded by Tether U.S. CEO Bo Hines, to buy campaign ads for Georgia Republican candidate Clay Fuller, raising questions about pay-to-play.
GateNews04-12 13:17
Tether Launches Open-Source Local AI SDK
Paolo Ardoino, CEO of Tether, criticizes centralized AI and champions decentralization through the QVAC SDK, allowing local AI model deployment. This shift enhances data privacy and user control, positioning Tether at the convergence of blockchain and AI, challenging dominant tech firms.
Coinfomania04-11 06:05
Tether CEO：USDT 在 Hyperliquid 上占 HIP-3 交易量 7.8%
Gate News message, on April 10, Tether CEO Paolo Ardoino posted that USDT’s adoption on Hyperliquid is rapidly increasing. Data shows that in less than three months, USDT has grown from having almost no share on Hyperliquid to accounting for the rest.
GateNews04-10 14:09
