Tether, the issuer of the world's largest stablecoin, is evaluating a major fundraising round, its CEO Paolo Ardoino, has confirmed, in a deal that could reportedly put the crypto company's value on par with OpenAI.

The El Salvador-based company is looking to raise between $15 billion and $20 billion for a roughly 3% stake through a private placement, according to a Wednesday report from Bloomberg News, citing two individuals familiar with the matter.

Soon after that report, Ardoino confirmed plans to fundraise on his official X account , saying that Tether was "evaluating a raise from a selected group of high-profile key investors."

The funds would "maximize the scale" of Tether's strategy across existing and new business lines by "several orders of magnitude," he added. Those busi

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