On September 24, Tether CEO Paolo Ardoino wrote, “Tether is evaluating financing from a number of well-known core investors to strategically scale the company’s existing and new business lines (stablecoins, distribution coverage, artificial intelligence, commodity trading, energy, communications, media) by several orders of magnitude.”
As previously reported at 7:00 AM on September 24, two people familiar with the matter reported that Tether, the world's largest stablecoin issuer, was in talks with investors to raise up to $20 billion. This deal could make the cryptocurrency company one of the world's most valuable private companies. Tether hopes to raise $15 billion to $20 billion through a private placement, representing approximately 3% of the company's shares. Negotiations are at an early stage.
