Crypto: Market Tether CEO Denies The Company Ever Planned $20b Raise

Tether CEO Paolo Ardoino scaled back the company's $20 billion funding plan, calling the target a "misconception," while maintaining a $500 billion valuation.

Update (Feb. 4, 3:20 pm UTC): This article was updated to include a statement from Tether CEO Paolo Ardoino, and the headline has been revised to reflect the changes.

Tether, issuer of USDt — the largest stablecoin by market capitalization — denied it had ever planned to raise up to $20 billion, contrary to reports that circulated last fall.

“There has been a misconception around the capital raise, amplified by unnecessary noise and speculation rather than by anything that has materially changed,” Tether CEO Paolo Ardoino told Cointelegraph on Wednesday.

Ardoino was referring to reports from September 2025, which claimed that Tether was seeking to raise between $15 billion and $20 billion at a $500 billion valuation.

The figures were discussed as a maximum in hypothetical scenarios, rather than as a target or a capital-raising plan, he said.

While denying any $20 billion raise plan, Tether has maintained its $500 billion valuation target, which reportedly drew private investor concerns.

Ardoino defended the valuation figure by comparing the company’s profits to AI platforms such as OpenAI, which reportedly reached a $500 billion valuation after a SoftBank share sale last October.

“The AI companies are making the same amount of profits we’re making, except with a minus sign in the front,” Ardoino said.

In a statement to Cointelegraph, the executive emphasized that Tether is “growing organically” and does not need to raise external capital to operate and grow it business. He added:

Source: CoinTelegraph