Crypto firm Tether eyes $500 billion valuation in major raise, Bloomberg News reports

FILE PHOTO: A representation of the cryptocurrency Tether is seen in this illustration picture taken September 8, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Crypto giant Tether is in talks to raise as much as $20 billion in a private placement that could value the El Salvador-based firm at about $500 billion, Bloomberg News reported on Tuesday.

The company is seeking $15 billion to $20 billion for roughly a 3% stake, the report said, citing people familiar with the matter.