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Is Tether really worth $500 billion?
Tether, the stablecoin behemoth beloved by crypto traders and derided by sceptics, is apparently preparing to swap its trench coat for a tuxedo. The world’s most widely used digital dollar is said to be courting investors for a US$15–20 billion raise in exchange for a sliver — about 3 per cent — of equity. On those terms, Tether Holdings would be valued near US$500 billion, elbowing its way into the rarefied company of the world’s most valuable private firms. This is not just another crypto fundraise. It is the equivalent of the barman suddenly being invited to sit at the high table. Stablecoins, the ... (full story)
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