Overview
- Tether is asking investors to commit within 14 days to a deal that values the company at $500 billion, and reports say the company may delay the round if demand is weak.
- The price tag would put Tether above most major U.S. banks by market value and well above USDT’s roughly $184 billion coin supply, signaling a bet on growth beyond stablecoins.
- Reports say KPMG is conducting Tether’s first full audit with PwC helping on internal systems, a move meant to address long-standing concerns about how the reserves are managed.
- Tether points to bets outside stablecoins, including AI compute through Northern Data, Bitcoin mining and energy projects in El Salvador, a large stake in Rumble, and a majority in Blackrock Neurotech.
- Past efforts considered raises as high as $20 billion or scaled talks to about $5 billion after investor pushback on price, while rivals like Circle work to gain ground in more tightly regulated markets.