According to Bloomberg, Tether is preparing a major fundraising round from private investors. The goal would be to raise several billion dollars to reach a valuation of $500 billion. The news comes as the company recently announced a $2 billion share buyback program and an increase in its quarterly dividend to $1.5 billion.
Tether wants to raise billions of dollars
Tether, the issuer of the USDT stablecoin, is therefore in discussions with private investors to raise several billion dollars. According to Bloomberg, this fundraising could value the company at $500 billion. A colossal sum that reflects Tether’s prominent place in the crypto ecosystem.
With a market capitalization of more than $1,000 billion, USDT is the largest stablecoin on the market. It is used massively on cryptocurrency exchanges to facilitate transactions between different digital currencies.
A fast-growing global financial giant
This fundraising is part of a series of financial announcements from Tether. Last week, the company unveiled a $2 billion share buyback program and increased its quarterly dividend to $1.5 billion. These measures are aimed at strengthening its market position and attracting more investors.
The company has recently decided to diversify its activities by investing in the gold sector, for example. Already at the head of a real treasure trove of physical gold, Paolo Ardoino’s company has increased its stake in Elemental Altus Royalties Corp., a Canadian-listed company specializing in precious metals.
And the least we can say is that the yellow metal sector is doing well, with the price of an ounce continuing to rise to record highs in recent months. Tether was already one of the crypto giants and is on its way to becoming a behemoth of global finance.