BlockBeats News, September 24th – According to two sources familiar with the matter, Tether, the issuer of the world’s largest stablecoin, is in negotiations with investors to raise as much as $20 billion. This transaction could potentially catapult the cryptocurrency company into one of the world’s most valuable private firms. Tether is looking to raise $15 billion to $20 billion through a private sale, representing roughly 3% of the company. The negotiations are still in the early stages.
Based on the provided stake percentage, this transaction could value Tether at around $500 billion, putting it on par with OpenAI and SpaceX. Its closest competitor, Circle, had a market capitalization of around $30 billion on Tuesday afternoon. Tether is at the forefront of stablecoins, with its USDT token pegged to the dollar and a market cap of $172 billion, making it the largest stablecoin, while Circle’s second-largest stablecoin USDC has a market cap of around $74 billion. (GoldenTen)
