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Tether eyes $500 billion valuation with SoftBank and Ark
After Bloomberg reported several days ago about negotiations to acquire shares of Tether, the stablecoin issuer, the potential buyers have now been revealed.
Tether is in talks with SoftBank Group Corp. and Ark Investment Management about a new funding round that would strengthen its position among the world’s most valuable private companies, Bloomberg reported on Friday.
The Japanese financial conglomerate SoftBank and Cathie Wood’s Ark Invest are reportedly prepared to jointly participate in a private placement worth $15 billion to $20 billion in exchange for about 3% of Tether’s shares.
Tether at the peak of success
In this case, Tether’s valuation would reach $500 billion, putting it on par with venture giants like SpaceX and OpenAI.
Additionally, Tether’s CFO Giancarlo Devasini, who owns 47% of the company’s shares, could enter the world’s top five richest businessmen, competing with Mark Zuckerberg, Jeff Bezos, Larry Ellison, and other entrepreneurs.
As we wrote, Tether targets up to $20B in private fundraising deal
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