Tether Holdings, the stablecoin giant, is reportedly aiming for a $500 billion valuation and exploring a fundraising round between $15 billion and $20 billion for a 3% stake. Bloomberg sources indicate that the company is in preliminary discussions, and the final amount raised might be lower. Tether, while not as mainstream as OpenAI, has become one of the most profitable companies globally on a per-employee basis, recently announcing a revenue total of $5.7 billion for the year-to-date. Tether's USDt remains the largest dollar-backed stablecoin, holding a market value of $172.8 billion, which constitutes about 56% of the total $307.2 billion stablecoin market. The company is looking to expand in a favorable regulatory environment for stablecoins, even as its CEO mentioned that there are currently no plans for additional fundraising. Other companies in the field, such as Circle, are also pursuing significant valuations, further highlighting the growing importance of stablecoins in finance.

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