"Earlier this year, CEO Paolo Ardoino revealed that Tether now holds over 100,000 BTC - worth more than $11 billion - alongside more than 50 tons of gold as part of its reserves. Those holdings make Tether one of the largest corporate owners of Bitcoin globally, a fact that further ties the fate of its business to the world's leading digital asset."
"Earlier this year, the company also began minting its stablecoin on the Bitcoin Lightning Network. Tether announced it will launch its stablecoin on RGB, a next-generation protocol that enables native stablecoin issuance directly on Bitcoin. This move made Tether more Bitcoin-native, underscoring its bet on Bitcoin as the base for everyday global money. The company has reaped massive profits by investing its reserves into U.S. Treasuries and other cash-like instruments, booking $4.9 billion in profit during the second quarter alone."
"According to people familiar with the discussions, Tether is seeking between $15 billion and $20 billion in exchange for roughly a 3% stake through a private placement. That would imply a valuation near $500 billion, putting the company in the same league as SpaceX and OpenAI."
Tether is pursuing a private placement to raise $15–$20 billion by selling roughly a 3% stake, implying a valuation near $500 billion. Cantor Fitzgerald is advising and the transaction would issue new equity rather than involve secondary sales. Tether has expanded beyond stablecoin issuance into a reserve-backed financial entity holding over 100,000 BTC and more than 50 tons of gold. The firm is minting on Bitcoin’s Lightning Network and plans RGB issuance to become more Bitcoin-native. Tether reported $4.9 billion in Q2 profit from investing reserves in U.S. Treasuries and claims an approximately 99% profit margin, unaudited.
Read at Bitcoin Magazine
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