SoftBank and ARK are in talks to participate in Tether's main financing round.

On September 27, Bloomberg reported that SoftBank and ARK are in talks to participate in Tether's major financing round. The world's largest stablecoin issuer, Tether, is seeking to raise up to $2 billion at a valuation of $500 billion, a deal that could make the crypto assets company one of the most valuable private companies globally. Tether aims to raise between $15 billion and $20 billion through a private placement, representing about 3% of the company's shares. Negotiations are still in the early stages. Based on the offered share percentage, this deal could value Tether at around $500 billion, placing it alongside OpenAI and SpaceX. Its most direct competitor, Circle, has a market capitalization of about $30 billion. Tether is at the forefront of stablecoins, with its USDT token pegged to the USD and a market capitalization of $172 billion, making it the largest stablecoin, while Circle's second-largest stablecoin USDC has a market capitalization of about $74 billion.