Tether CEO Confirms Targeting Up To $20B Fundraise, Valuation Could Rival OpenAI
Synopsis
CEO Paolo Ardoino confirmed on X that the fundraising targets “high-profile investors to scale the company’s strategy across stablecoins, AI, commodities, energy, communications, and media.”
Tether, the issuer of the world’s largest stablecoin USDT (USDT), is exploring a major fundraising round that could value the company on par with leading AI firm OpenAI, CEO Paolo Ardoino confirmed.
According to a report by Bloomberg, the company is targeting $15 billion to $20 billion for a roughly 3% stake through a private placement. Ardoino confirmed the fundraising plans in a post on X, saying the round targets “a selected group of high-profile investors to scale the Company’s strategy across all existing and new business lines—stablecoins, distribution, AI, commodity trading, energy, communications, and media—by several orders of magnitude.”
OpenAI’s current valuation is reportedly around $500 billion, making it the world’s most valuable private company—surpassing SpaceX, TikTok’s parent company ByteDance, and even public firms like Palantir. If Tether’s fundraising round reaches its $15 billion to $20 billion target, it could place the crypto giant on a comparable footing to OpenAI.
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