SoftBank, Ark May Back Stablecoin Giant Tether in Massive Funding Round: Report

Core Insights - Tether is seeking to raise $15-20 billion for a 3% equity stake, potentially valuing the company at $500 billion, with interest from SoftBank Group and Ark Investment [1][2] - If successful, Tether would rank among the largest private companies globally, alongside firms like OpenAI and SpaceX [2] - Tether plans to launch a new U.S. regulated stablecoin, USAT, by the end of the year, expanding its presence in the market [3] Company Developments - Tether has been increasing its presence in the U.S. since the election of President Donald Trump, hiring former White House crypto advisor Bo Hines as a strategic advisor [4] - The company maintains a close relationship with U.S. Commerce Secretary Howard Lutnick, who is involved in Tether's fundraising efforts [4] Market Context - Tether's USDT stablecoin has a market cap of $173 billion, making it the third largest crypto asset, significantly larger than Circle's USDC [5] - The stablecoin market has grown by over $122 billion in the past year, reaching nearly $300 billion, with predictions of reaching $750 billion by the end of 2026 [6]