Tether's valuation skyrockets to $500 billion as the stablecoin giant welcomes new opportunities.

[Crypto World] Tether Holdings, which was once on the brink of bankruptcy, is currently negotiating a round of $20 billion in financing, with a valuation reaching $500 billion, comparable to OpenAI's goals. The company behind USDT holds $127 billion in U.S. Treasury bonds, ranking as the 18th largest holder globally, ahead of countries like South Korea. Tether's net profit is expected to reach $13.7 billion in 2024, primarily from interest on U.S. Treasury bonds, with its business reinforcing the dominance of the dollar while expanding asset tokenization services. Although its market share has dropped to 60%, its systemic importance and political connections provide it with a defensive moat, as the market capitalization of stablecoins could reach $2-3 trillion by 2030.