SoftBank and ARK in talks to participate in Tether's major funding round

According to Bloomberg, SoftBank and ARK are in talks to participate in Tether's major funding round. Tether, the world's largest stablecoin issuer, is seeking to raise up to $20 billion at a $500 billion valuation. The deal could make Tether one of the world's most valuable private companies, putting it on par with OpenAI and SpaceX.

Tether hopes to raise $15 billion to $20 billion in a private placement, representing approximately 3% of the company. Negotiations are in the early stages. Tether's closest competitor, Circle, has a market capitalization of approximately $30 billion. Tether's USDT, with a market capitalization of $172 billion, is the largest stablecoin, while Circle's second-largest stablecoin, USDC, has a market capitalization of approximately $74 billion.