Tether is making a final attempt to line up investors for a new funding round at a $500 billion valuation, but the price tag is meeting resistance. According to The Information, the company has given potential investors two weeks to respond and may delay the round if commitments do not materialize.
The capital raise has been under discussion since late last year. Investor hesitation has centered on the proposed valuation, which The Information said would place Tether above most U.S. banks, with JPMorgan Chase as a notable exception. That level, along with concerns about market competition, has slowed momentum.
Raise could be reduced well below earlier discussions
If commitments remain limited, Tether may shrink the offering to around $5 billion. That would come in below earlier talks that put the round in a $15 billion to $20 billion range. Whether the fundraising proceeds on that basis now depends on investor responses over the coming weeks.
CEO Paolo Ardoino has previously tried to cool concerns around the headline valuation. In remarks cited by Reuters, he said the higher numbers being discussed were hypothetical ceilings rather than fixed targets. He also said conversations with investors were centered on long-term alignment, not urgency.
Tether keeps expanding while funding talks remain open
Ardoino said in September 2025 that Tether was evaluating fundraising options to support expansion across several lines of business, including stablecoins, artificial intelligence, commodity trading, and communications. In February, however, he said the company did not need external funding even as talks continued.
Product expansion has continued at the same time. In January, Tether launched USAT, a U.S. dollar-backed stablecoin that it said was designed to align with the GENIUS Act framework. On March 25, the company also said it had engaged a Big Four accounting firm for its first full audit, describing it as the largest inaugural review in financial markets.
Tether remains the world’s largest stablecoin issuer and reported more than $10 billion in net profit last year.