SoftBank and ARK are currently in discussions to participate in Tether's major funding round.

BlockBeats News, September 27th, according to Bloomberg, SoftBank and ARK are in talks to participate in Tether's major funding round. Tether, the issuer of the world's largest stablecoin, is seeking to raise up to $20 billion at a valuation of $500 billion. This transaction could propel Tether to become one of the most valuable private companies globally, putting it on par with OpenAI and SpaceX.

Tether aims to raise $15-20 billion through a private sale, representing approximately 3% of the company's equity, and the negotiations are still in the early stages. Tether's closest competitor, Circle, has a market capitalization of around $30 billion. Tether's USDT has a market capitalization of $172 billion, making it the largest stablecoin by a wide margin, while Circle's second-largest stablecoin, USDC, has a market capitalization of about $74 billion.