Crypto firm Tether eyes $500 billion valuation in major raise, Bloomberg News reports

Group 1 - Tether is in discussions to raise between $15 billion and $20 billion in a private placement, potentially valuing the company at approximately $500 billion [1] - The company is targeting a 3% stake for the investment, but the final valuation may vary based on the stake offered [1] - Tether's USDT stablecoin has a market capitalization of around $173 billion, indicating its significant presence in the market [2] Group 2 - Tether has established itself as a leading player in the stablecoin market, providing cryptocurrencies pegged to traditional currencies to reduce price volatility [3] - The company has appointed Bo Hines, a former White House crypto policy executive, as a strategic adviser to enhance its expansion efforts in the United States [3] - Tether plans to launch a U.S.-based stablecoin named USAT, aimed at U.S. residents [4]