Funding. Stakes. Valuations.

Tether is (also) reported to be in talks with investors like SoftBank and ARK to raise $15–20B for about 3% of the company, implying a valuation near $500B. This puts them up there with some of the biggest names in tech.

When investors buy a stake, the price they pay sets the whole company's value.

For Tether, 3% at $15–20B implies roughly $500B. That number becomes the benchmark for future rounds, comparisons, and investor influence.

For exchanges like Kraken, raising at $20B signals confidence that a private platform can keep growing in the U.S.

A raise puts reserves and disclosures back under the microscope for Tether, which issues about $173B in USDT.

How are reserves managed? How does governance work, and what changes when outside investors hold a piece?

Crypto is now big enough that funding rounds look like tech and finance. They show who is trusted to scale, who attracts institutional money, and how the industry compares to the largest in the market.