Tether's Secondary Market Valuation Reaches Up to $375 Billion, Largest Shareholder's Net Worth May Surpass Buffett's

Odaily News Stablecoin issuer Tether's current trading valuation range in the secondary market is $350 billion to $375 billion, lower than the previously reported maximum fundraising target of $500 billion by Bloomberg. Based on communications with crypto investors and executives, Forbes currently values Tether at approximately $200 billion, significantly higher than its $50 billion valuation a year ago.

Calculated at a $200 billion valuation, CFO Giancarlo Devasini, who holds approximately 44%-45% of the shares, has a net worth of about $89 billion. CEO Paolo Ardoino and former CEO Jean-Louis van der Velde each hold about 19%, with a net worth of approximately $38 billion. General Counsel Stuart Hoegner holds about 12%, with a net worth of around $25 billion. Calculated at a $350 billion valuation, Devasini's stake would be worth over $156 billion, exceeding Warren Buffett's net worth of $147.8 billion. Cantor Fitzgerald holds a 5% stake, valued at $10 billion based on a $200 billion valuation.

Tether's profit last year was approximately $10 billion (unaudited), with USDT's market capitalization reaching $184 billion. Over 80% of its reserves are backed by U.S. Treasury bonds and short-term securities. The company also holds about $23 billion in gold and $6.4 billion in Bitcoin. Its venture capital portfolio covers over 120 companies, valued at more than $10 billion. Tether recently launched the U.S.-compliant stablecoin USAT, with Anchorage Digital Bank serving as the issuer. (Forbes)