Tether’s $20bn raise ‘resets expectations’ for stablecoin sector

Tether’s talks to raise $20 billion from investors — valuing the stablecoin issuer at $500 billion — redefines the scale of the industry. That’s according to Daniel Worsley, co-founder of crypto software company OneBalance, who told DL News that a successful raise would “reset expectations” for the entire stablecoin industry. “A $500 billion valuation not only dwarfs prior benchmarks but also overshadows the GDP of El Salvador — the country where Tether is headquartered,” Worsley said. The potential dea ...