Masayoshi Son and "Wood Sister" both consider taking a stake; "Stablecoin giant" Tether’s valuation is catching up with OpenAI.

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Tether, the world's largest stablecoin issuer, is attracting the attention of top investors. Its latest round of potential financing could push the company's valuation up to a staggering $500 billion.

According to Bloomberg, SoftBank Group and Cathie Wood's ARK Investment Management are considering investing in Tether. This round of financing aims to sell about 3% of the company's shares, with a potential total investment of up to $20 billion.

If the financing succeeds, Tether's valuation will be on par with AI leader OpenAI, reaching the $500 billion level and ranking among the most valuable private companies globally.

Tether CEO Paolo Ardoino has confirmed this week that the company is exploring potential financing from “a small group of well-known key investors,” but he declined to disclose the names of investors or the amount of financing.

Profit Outlook Under Pressure, Tether Deploys Diversification

Investors' keen interest in Tether stems from its absolute dominance in the stablecoin market. The USDT it issues has a market capitalization of about $173.6 billion, consistently ranking first in the world.

In recent years, stablecoins have evolved from pure cryptocurrency trading tools to strategic financial assets. Tether issues the US dollar-pegged USDT and invests users’ fiat reserves in yield-generating assets, thus earning huge profits.

Since the Federal Reserve began an aggressive rate hike cycle in 2022, short-term US Treasury yields have soared, providing strong tailwinds for Tether's interest income. Financial reports show that in the second quarter of 2025, Tether's net profit reached $4.9 billion, a year-on-year increase of 277%. This earning power makes it one of the most profitable companies in the crypto industry and even globally.

However, great success also comes with potential risks. Although interest rates remain at historic highs, the 3-month US Treasury yield has declined from its 2023 and 2024 peaks. For a company like Tether, which is heavily reliant on interest income from short-term government bonds, this could signal the need to reduce dependence on a single revenue source and seek new profit growth points.

Faced with possible changes in the interest rate environment, Tether has already started deploying diversification strategies. According to Paolo Ardoino, the company plans to expand its business lines into new sectors such as commodities, energy, and media.

By the end of 2023, the company had already announced its transition to infrastructure and energy production. In 2024, Tether completed its first crypto venture investment, committing funding support to Arcanum Capital.

Risk Warning and DisclaimerThere are risks in the market, and investments need to be made cautiously. This article does not constitute personal investment advice, nor does it take into account the individual investment objectives, financial situation, or needs of specific users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular situation. Investment is at your own risk. ```