Tether’s $20B Fundraise at $500B Valuation — What It Means for Stablecoins and Private Swaps
• 7 min read • by Kelvin Jones
🚀 Tether’s $20B Fundraise at a $500B Valuation: What It Means for Stablecoins and Private Crypto Swaps
Tether’s Eye‑Popping Raise
Stablecoin giant Tether Holdings is reportedly in talks to raise between $15–$20 billion in new equity, targeting a $500 billion valuation. If finalized, this would place Tether among the world’s most valuable private companies — in the same league as OpenAI and SpaceX.
- Cantor Fitzgerald is advising the deal and already holds a 5% stake in Tether.
- The raise would involve issuing new shares, not selling existing ones.
- CEO Paolo Ardoino confirmed the company is evaluating “high‑profile investors” to expand into AI, energy, media, and communications.
Tether’s financials are staggering: $4.9 billion in profit in Q2 2025 alone, with a reported 99% profit margin. Its flagship stablecoin, USDT, commands a 56% market share with $172+ billion in circulation.
Why This Matters for Stablecoin Adoption
Tether’s dominance underscores the mainstreaming of stablecoins as a low‑cost, efficient way to move money globally. With the U.S. GENIUS Act providing regulatory clarity, adoption is accelerating.
But here’s the catch: centralized stablecoin issuers like Tether and Circle are scaling into valuations rivaling Wall Street banks — while still facing scrutiny over transparency and reserves. For privacy‑minded users, this raises the question: what happens when stablecoins become too big to ignore?
The AnonSwap Perspective
At AnonSwap, we see two parallel trends:
- Institutionalization of stablecoins — Tether’s raise shows that stablecoins are no longer niche. They’re becoming the backbone of global liquidity.
- Demand for privacy‑first swaps — As stablecoins scale, so does surveillance. That’s why non‑custodial, no‑KYC swap platforms like AnonSwap are essential for users who want to stay off the grid.
Our mission is to ensure that even as giants like Tether dominate headlines, you retain the ability to swap crypto privately, cross‑chain, and without accounts.
Related Reading
- Curious about the best wallets to pair with private swaps? Check out our guide: Top Anonymous Wallets 2025.
- Want to understand how no‑KYC exchanges compare? Read: Best No‑KYC Crypto Exchanges in 2025.
Final Thoughts
Tether’s potential $500B valuation is a milestone for crypto’s legitimacy in global finance. But it also highlights the trade‑off between scale and privacy. At AnonSwap, we believe users deserve both: access to deep liquidity and the right to swap without surveillance.
As the stablecoin wars heat up, one thing is clear: privacy isn’t optional — it’s the future of crypto trading.
Published September 24, 2025. Last updated September 24, 2025.
Frequently asked questions
Why is Tether raising $20B at a $500B valuation?
Tether is seeking to expand beyond stablecoins into AI, energy, and media, while solidifying its dominance in the $172B USDT market. The raise would make it one of the world’s most valuable private companies.
How does Tether’s valuation affect stablecoin adoption?
A $500B valuation signals mainstream acceptance of stablecoins as core financial infrastructure. It also highlights the growing role of USDT in global liquidity and payments.
What risks come with Tether’s growth?
Critics point to transparency and reserve concerns. As Tether scales, regulatory scrutiny will intensify, raising questions about centralization and systemic risk.
How can users swap stablecoins privately?
Platforms like AnonSwap enable non‑custodial, no‑KYC swaps of USDT and 1,500+ tokens across chains. Users retain full control of their funds and privacy while accessing deep liquidity.