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SoftBank and Ark in Talks for Tether's $20 Billion Merger Round!
SoftBank and Ark Investment plan to participate in Tether's funding round of up to $20 billion to expand into AI and energy.
SoftBank and Ark in Talks for Tether's $20 Billion Merger Round!
SoftBank Group and Ark Investment Management are showing keen interest in participating in Tether Holdings' upcoming large-scale financing round. This round is expected to raise between $15 billion and $20 billion and raise Tether's valuation to $500 billion. Talks between investors and Tether are already in full swing. The aim of this financing round is to support Tether's expansion into artificial intelligence and energy, which promises strategic growth for the company.
Tether plans to offer about 3% of the company in exchange for the planned investments. If the financing is successfully completed, Tether could rank among the most valuable private companies in the world. New to the company's leadership team is Benjamin Habbel, who has been hired as chief business officer to lead Tether's growth and finances.
New stablecoin and growth of USDT
Another important project of Tether is the upcoming launch of USAT, a stablecoin regulated for US customers that is scheduled to launch by the end of the year. Bo Hines will serve as CEO of USAT. Tether's existing stablecoin, USDT, has experienced remarkable growth since 2020. Daily wallet-to-wallet transfers exceed $17.4 billion, an increase of 130x.
Tether CEO Paolo Ardoino highlights the company's vision of building a decentralized and resilient financial infrastructure. These ambitions and the support of heavyweights like SoftBank and Ark Invest could put Tether further on the path to success and prepare the company for the future.