Stablecoin Giant Tether Aims for World’s Most Valuable Company Status With $20B Raise

Core Insights - Tether is planning to raise up to $20 billion through a private placement to enhance its business operations and expand beyond the crypto sector [1][2] - The potential raise could elevate Tether's valuation to approximately $500 billion, positioning it alongside major firms like OpenAI and SpaceX [3][6] Company Overview - Tether, the leading stablecoin issuer, has a current market cap of $173.08 billion, making it the third most valuable cryptocurrency and the top stablecoin [4][6] - The firm is also developing a U.S.-compliant stablecoin, USAT, aimed at American businesses and institutions, which will compete with other stablecoins like Ripple's RLUSD [5][6] Business Strategy - The funds raised will be used to maximize Tether's strategy across various business lines, including stablecoin operations, commodities trading, AI, energy, and media [2][4] - Tether is experiencing increased adoption, with reports of automakers in Bolivia beginning to accept USDT as payment [7]