Tether Seeks Major Funding Round with SoftBank and ARK

According to BlockBeats, Tether, the world's largest stablecoin issuer, is in discussions with SoftBank and ARK for a significant funding round. The company aims to raise up to $20 billion at a valuation of $500 billion, potentially positioning Tether among the most valuable private companies globally, alongside OpenAI and SpaceX. Tether plans to raise between $15 billion and $20 billion through a private placement, representing approximately 3% of the company's shares. The negotiations are still in the early stages. Tether's closest competitor, Circle, has a market valuation of around $30 billion. Tether's USDT has a market capitalization of $172 billion, making it the largest stablecoin, while Circle's USDC, the second-largest stablecoin, has a market capitalization of approximately $74 billion.