According to Coindesk, stablecoin giant Tether is seeking to raise $15 billion to $20 billion for a 3% stake in the company via a private placement, which could value the firm at around $500 billion. The deal, in early stages, involves issuing new equity with Cantor Fitzgerald as lead adviser. Tether reported $4.9 billion in Q2 net profit and holds $162.5 billion in reserves, including $8.9 billion in bitcoin. Prospective investors have accessed a data room to facilitate the raise, though final figures may be lower. CoinDesk has requested comments from Tether.
Tether Aims to Raise Up to $20B in Private Placement, Valuation Could Hit $500B
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