Tether or Deferred Financing: $500 Billion Valuation Faces a Market Test

Golden Finance reports that on April 4, stablecoin issuer Tether is encouraging investors to participate in its next round of fundraising within the next two weeks, with a target valuation as high as $500 billion; if market demand is insufficient, the company may choose to postpone its fundraising plans.
This valuation would put Tether among the world’s largest financial institutions, only behind JPMorgan Chase and ahead of Bank of America. Currently, its core product USDT has a market value of about $184 billion, making it the world’s largest stablecoin.
Earlier reports said that Tether had considered raising $15 billion to $20 billion through private placements at a valuation of about $500 billion, but the company’s CEO, Paolo Ardoino, said the figures were more in the realm of hypothetical discussions. Still, it has repeatedly defended the valuation, saying the company’s profitability could be compared to high-growth industries like AI.
In addition, Tether is advancing its audit process. Reports say the company has hired KPMG to conduct the first comprehensive audit of USDT reserves, with PwC involved in internal system readiness work. This move is seen as an important step toward improving transparency.
Market analysis suggests that if the financing is completed smoothly, it will further strengthen Tether’s position in stablecoins and the broader financial sector; however, an overvalued figure could also become a key obstacle to investors’ decisions.