Tether’s $500 Billion Bid Marks Watershed in Stablecoin Finance

Tether Holdings SAhas weathered market meltdowns, regulatory troubles and an influx of new challengers. Now the crypto firm is chasing a roughly $500 billion valuation — a towering ambition, even in a private-market era awash with capital.

Bloomberg News reported Tuesday that the stablecoin issuer is raising as much as $20 billion in a private placement that could place it among the most highly valued private companies globally. Chief Executive Officer Paolo Ardoino later confirmed that the firm is raising cash for expansion in areas from artificial intelligence to commodity trading.

Read more: Crypto Giant Tether Seeks Funding ...