SoftBank, Ark May Back Stablecoin Giant Tether in Massive Funding Round

Tether, the issuer of the world's largest stablecoin, is reportedly seeking to raise between $15 billion and $20 billion for a 3% equity stake. This funding round could result in a valuation of around $500 billion for the company, making it one of the largest private firms globally, alongside giants like OpenAI and SpaceX. Tech investors SoftBank and Ark Invest are in discussions to participate in this funding, which aims to strengthen Tether's presence in mainstream finance. Tether currently has a market capitalization of $173 billion, making it the third largest crypto asset. The stablecoin sector has seen significant growth, with the total market nearing $300 billion, and projections suggesting it could reach $750 billion by 2026. Regulatory developments surrounding stablecoins have become a focal point of conversation in the crypto space this year. Tether is looking to expand its operations further, with reports of its plans to leverage its significant market position and investor interest.

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