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Tether Seeks To Raise $200 Million For Tokenized Gold Treasury – Report

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According to a recent report, the world’s largest stablecoin company, Tether, and a partner firm are looking to raise capital for a digital asset treasury company that would accumulate its tokenized gold.

Tether To Launch Digital Asset Treasury Firm With XAUT: Report

On Friday, October 3rd, Bloomberg reported that Tether and financial services firm Antalpha Platform Holding are leading an effort to raise at least $200 million to set up a digital asset treasury company. Citing unnamed sources close to the matter, this public vehicle would use the capital to purchase XAUT, Tether’s gold token.

Bloomberg revealed that Antalpha Platform Holding has close ties to Bitmain Technologies, the world’s largest Bitcoin hardware supplier based in China. According to a report from the University of Cambridge Judge Business School, the Bitcoin hardware manufacturer supplies about 82% of the world’s crypto mining machines.

Bloomberg posited that this capital-raising effort would further strengthen the relationship between two of the largest companies in the global crypto industry. Meanwhile, this venture would represent a continuation in digital asset treasury companies’ craze happening this year, with more than 80 firms set up so far in 2025.

Furthermore, the report revealed that asset manager Cohen & Company is the lead advisor on the deal, with further talks kept private. While most parties declined to comment, Tether reportedly pointed out a post on the social media platform X about its recent announcement with Antalpha.

Source: @paoloardoino on X

As per the post on X, Antalpha revealed that it would be integrating Tether Gold into its Real-World Assets (RWA) Hub, offering tokenized gold-backed lending and infrastructure solutions. The financial services firm also announced that it would set up physical vaults in major financial centers around the world to allow holders to exchange the tokens for gold bars.

This move to offer XAUT-backed lending came after Tether had purchased an 8.1% stake in Antalpha during its initial public offering (IPO) earlier in May 2025. 

Tether Gold, launched in 2020, offers investors an exposure to gold without physically owning the metal. With a market capitalization of about $1.5 billion, Tether claims that the almost 250,000 XAUT tokens in circulation are backed by an equivalent of more than 7.66 tons of gold.

USDT Market Cap At $175 Billion

At the same time, Tether owns the largest dollar-backed stablecoin and the fourth-largest digital asset in the cryptocurrency market, with a market cap of more than $175 billion.

The USDT market cap at $176 billion on the daily timeframe | Source: USDT chart on TradingView

Featured image from Pexels, chart from TradingView

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USDT Issuer Tether to Launch Tokenized Gold Treasury Firm With Antalpha: Report

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Tether, the company behind the USDT stablecoin USDT$1.0005, is working with crypto miner financing firm Antalpha to raise at least $200 million for a new digital asset treasury for tokenized gold, Bloomberg reported Friday, citing sources familiar with the matter.

The planned vehicle would stockpile XAUT$3,892.89, a blockchain-based token backed by physical gold bars under custody in a Swiss vault. XAUT is the largest tokenized gold offering on the market with nearly $1.5 billion market capitalization.

Antalpha is known as a key lender of Chinese crypto mining equipment manufacturer Bitmain, and offers supply chain and margin loans.

The report follows an expanded partnership between Tether and Antalpha, announced on Monday, to launch a dedicated hub for XAUT-backed lending, custody and token redemption services. Antalpha said then it plans to work with partners to open vaults in major financial hubs, allowing users to redeem digital tokens for physical gold.

Tether has expanded beyond issuing its flagship USDT token, the largest stablecoin boasting a $174 billion supply, with investments spanning across bitcoin BTC$111,480.33 mining, payments, energy and artificial intelligence (AI). It was a lead investor, alongside Bitfinex, with which it shares key executives and ownership, and SoftBank, in bitcoin treasury firm XXI Capital that launched earlier this year. Tether also reportedly seeks to raise funds at a $500 billion valuation to fuel its expansion.

Paolo Ardoino, CEO of Tether, has been a vocal proponent of gold as a hard asset, The company held $8.7 billion in the yellow metal on its balance sheet, according to its June attestation.



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Tether to tap Rumble for USAT stablecoin distribution
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Tether to tap Rumble for USAT stablecoin distribution

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Tether is turning to video streaming platform Rumble to roll out USAT, its newly launched U.S.-regulated stablecoin, as part of its return to the American market.

Summary

  • Tether is looking to use Rumble’s 51 million monthly active users to promote adoption of its new USAT stablecoin.
  • CEO Paolo Ardoino says Rumble will launch a crypto wallet later this year featuring USAT and other tokens.
  • The push comes as part of the stablecoin issuer’s re-entry into the U.S. market, supported by new stablecoin regulations under the GENIUS Act.

Tether, the world’s largest stablecoin issuer, has revealed plans to capitalize on the user base of video streaming platform Rumble to drive adoption of its new U.S.-regulated stablecoin, USAT. CEO Paolo Ardoino disclosed the partnership during a panel at Token2049 in Singapore, a move to deepen its push into the U.S. crypto market.

Ardoino stated that the video streaming platform will soon launch a crypto wallet integrated with Tether’s infrastructure. The wallet, expected later this year, will feature USAT, offering Rumble’s 51 million active users easy access to the digital dollar.

CEO Paolo Ardoino at Token2049 | Source: Tether

The initiative builds on the company’s $775 million investment in Rumble last year, which secured the company a 48% stake in the YouTube rival, as reported by Bloomberg. With competition heating up in the U.S. stablecoin market, currently dominated by rival Circle’s USDC (USDC), the USDT (USDT) issuer is betting that direct integration with a major content platform will give USAT a competitive edge.

According to Ardoino, Rumble’s wallet will be central to future growth, not only for USAT but also for other products such as its tokenized gold offering. This will position Rumble as an important distribution channel in the stablecoin issuer’s broader plan to further strengthen its place in the stablecoin sector.

Tether eyes U.S. market comeback with USAT

Tether’s USAT on Rumble move comes amid a broader push to gain a foothold in the U.S. market. After years of absence following regulatory hurdles, including a $41 million fine in 2021, the company re-entered the U.S. with the launch of USAT in September, appointing Bo Hines, a former White House crypto advisor, to lead the initiative.

USAT is designed to comply with the GENIUS Act, the stablecoin regulation signed into law by President Trump in July. The legislation allows dollar-backed stablecoins to be issued under strict federal guidelines, opening the door for more listings and broader adoption.

With its new stablecoin, Tether hopes to challenge the stablecoins from incumbents like Circle, World Liberty Financial, and Ripple in the high-stakes race to dominate the American digital dollar space.



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Tether Stacks More Bitcoin With Fresh 8,888 BTC Acquisition Worth $1 Billion

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Leading stablecoin issuer Tether appears to have acquired another 8,888 Bitcoin (BTC), worth approximately $1 billion. On-chain analytics platform Onchain Lens confirmed the purchase in an X post earlier today.

Tether Continues To Stack Bitcoin

Tether, the issuer of the top USD-pegged stablecoin USDT, today purchased another 8,888 BTC, increasing its total Bitcoin reserves to new highs. Onchain Lens said that Tether acquired it on the last day of Q3, 2025.

Following the Bitcoin purchase, Tether CEO Paolo Ardoino confirmed the acquisition in an X post, saying, “yeah.” With today’s purchase, Tether’s total holdings now stand at almost 10,940 BTC.

Tether’s total BTC holdings have propelled it to second position among private companies with the most BTC reserves. The list is currently led by Block One, which currently holds 164,000 BTC, worth roughly $18.5 billion.

In the overall list, including public companies, Tether is now ranked third, behind Strategy, which leads the list by far, holding 640,031 BTC on its balance sheet, according to data from Coingecko.

It should be noted that this is not the first time that Tether has acquired such a huge amount of BTC. The company purchased a similar amount of BTC and transferred it to its wallet at the end of Q1, 2025.

To recall, Tether started buying BTC as part of its reserves back in September 2022. Subsequently, in May 2023, the firm announced that it would allocate up to 15% of its net profits each quarter to purchase more BTC.

Since announcing its BTC buying strategy, Tether has consistently enhanced its BTC reserves as part of its long-term diversification strategy. It is worth noting that Tether-backed Bitcoin treasury firm Twenty One also holds around 43,514 BTC currently.

Tether’s Bitcoin reserve wallet address, starting with “bc1qj” is also among the top ten single address holders of BTC. The wallet trails several centralized exchange cold wallets, such as those of Binance.

The Rush For Accumulating BTC

Tether’s move to accumulate BTC is not an isolated incident. An increasing number of firms have been actively purchasing BTC over the last few years, seeing the digital asset’s extraordinary price appreciation in a relatively short period.

For instance, Strategy recently added to its already high amount of BTC holdings, purchasing 196 BTC. Similarly, Cyprus-based ship-owning firm Robin Energy recently made its first BTC acquisition, as it bought the flagship cryptocurrency worth $5 million.

The trend of companies buying BTC in large amounts is likely to dry up the asset’s active circulating supply, as confirmed in a recent report by Fidelity. This could put further upside price pressure on BTC. At press time, BTC trades at $113,219, down 0.4% in the past 24 hours.

Bitcoin trades at $113,219 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, chart from TradingView.com

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Tether and Circle Are ‘Printing Money’ But Competition is Coming: Wormhole Co-Founder

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Stablecoin giants like Tether and Circle are profiting from the current high-interest rate environment while stablecoin holders see none of the returns, said Wormhole’s co-founder, Dan Reecer, at Mercado Bitcoin’s DAC 2025 event.

Speaking as a panelist, he said the companies are effectively “printing money” by keeping the yield from the U.S. Treasuries backing their tokens. Tether, for example, reported $4.9 billion in net profit in the second quarter of the year. That has seen the company’s valuation soar to a reported $500 billion in a new funding round.

As interest rates remain elevated, Reecer suggested it’s only a matter of time before users expect a share of that yield or move their funds elsewhere.

Platforms like M^0 and Agora are already responding to that demand, he suggested. These projects allow stablecoin infrastructure to be built in a way that routes yield to applications or directly to end users, instead of the issuer capturing all of it.

“If I’m holding USDC, I’m losing money, losing money that Circle is making,” Reecer said in the session, referring to the opportunity cost of holding a non-yielding token that’s backed by U.S. Treasuries generating income.

Tether and Circle likely do not share the yield generated from their stablecoins directly with users as doing so could draw the ire of regulators. An alternative that’s steadily growing are money market funds, which allow investors to gain exposure to the yield behind these stablecoins.

Circle, it’s worth noting, acquired Hashnote earlier this year for $1.3 billion, the issuer of the tokenized money market fund USYC. With this acquisition, Circle aims to enable convertibility between cash and yield-bearing collateral on blockchains.

These money market funds, however, are still a fraction of the stablecoin market. According to RWA.xyz data, their market capitalization currently stands around $7.3 billion, while the global stablecoin market has topped $290 billion.

A Tether spokesperson told CoinDesk that “USDT’s role is clear: it is a digital dollar, not an investment product.” He added that “hundreds of millions of people” rely on USDT, especially in emerging markets, “where it serves as a lifeline against inflation, banking instability, and capital controls.”

“While few percentage points might make the difference for rich Americans or Europeans, the real savings for our USDT user base is the one against dramatic inflation so common in developing countries – often reaching numbers as high as 50% to 90% year-over-year, with declines of local currency values against the US dollar at 70% year-over-year,” he said.

“Passing along yield would fundamentally change a stablecoin’s nature, risk profile, and regulatory treatment,” the spokesperson added. “Competitors experimenting with yield-bearing stablecoins are targeting a completely different audience, and they take on additional risks.”

Fireblocks’ Stephen Richardson, during the panel, said the broader stablecoin market is meanwhile evolving toward real-world use cases, including cross-border payments and FX services.

He pointed out that tokenized money moving instantly could help solve problems that exist today, such as slow corporate payment rails or expensive remittances. Financial innovation, Richardson added, is already being seen in the sector, with an example being tokenized money market funds that are being used as collateral on exchanges.



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SoftBank, Ark May Back Stablecoin Giant Tether in Massive Funding Round: Report

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In brief

  • Tether is reportedly seeking up to $15-20 billion for a 3% stake in its firm.
  • Ark Invest and Softbank are reportedly in discussions to participate in the raise.
  • The raise would value the firm at around $500 billion, making it one of the largest private companies in the world.

Tech investors SoftBank Group and Ark Investment are among the firms discussing participation in a major Tether fundraise that could  value the stablecoin issuer at $500 billion, according to a Friday Bloomberg report.

The two groups’ interest follows three days after news that El Salvador-based Tether was looking to raise $15-20 billion for a 3% equity stake. Bloomberg first reported this story, citing two unnamed sources, although another source said the amount could be less. 

The initiative could help push Tether deeper into mainstream finance, the report said.

At $500 billion, Tether would rank among the world’s largest private companies, putting it in the same conversation as artificial intelligence firm OpenAI and Elon Musk’s space exploration and transportation firm, SpaceX, which received similar valuations.



Tether, which issues the world’s largest stablecoin—USDT—plan’s to further expand its footprint, anticipating the debut of a new U.S. regulated stablecoin—USAT—by the end of the year. 

Softbank is a Japan-based multinational investment company. Ark is a U.S.-based asset manager. Both have been active in the crypto space. 

The firm has been creating more of a presence in the United States since the election of U.S. President Donald Trump last year, recently adding former White House crypto advisor Bo Hines as a strategic advisor. It also maintains a close relationship with U.S. Commerce Secretary Howard Lutnick, whose previous firm Cantor Fitzgerald is advising Tether in its fundraising talks and also custodies all its assets, according to the Bloomberg report. 

Tether and stablecoins have been at the forefront of crypto conversation for the bulk of this year, highlighted by the U.S.’s passage of the GENIUS Act, a regulatory framework for the trading and issuance of the fiat-backed tokens. 

Its USDT stablecoin sits at a $173 billion market cap, making it the third largest crypto asset by market cap at the time of writing and more than double the market cap of Circle’s USDC stablecoin. 

Stablecoins as a whole have added more than $122 billion in market cap since this time last year to reach a total of nearly $300 billion, according to data from DeFi Llama. Earlier this year, U.K. bank Standard Chartered predicted that the market could reach $750 billion by the end of 2026. 

Decrypt reached out to Tether for comment.

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Tether (USDT) Fundraising Interest Reportedly From Softbank, Ark Invest

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Tech-focused investment companies SoftBank and Ark Invest are among the firms in early stage talks to invest in Tether, issuer of the world’s largest stablecoin USDT (USDT), Bloomberg reported on Friday.

The report follows this week’s news about Tether looking to raise up to $20 billion in a fundraising round that would value the firm at around $500 billion, which would make it one of the world’s most valuable private companies.

The fundraising and the hefty valuation underscores the red-hot stablecoin trend, a fast-growing crypto sector with a potential to disrupt global payment flows. Stablecoins are a class of cryptocurrencies with prices tied to fiat money like the U.S. dollar, and could offer a cheaper, faster alternative for cross-border transactions using blockchain rails, proponents say. The sector has grown 40% year-to-date to $287 billion, RWA.xyz data shows, and analysts at global bank Citi project stablecoins will hit $4 trillion in market value in its bull market scenario.

Tether’s USDT is the market leader with a $173 billion market capitalization, predominantly backed by U.S. Treasuries that has provided a windfall of profits from bond yields over the past years. The company reported $4.9 billion in profits in the second quarter of this year.

Circle (CRCL), issuer of the second-largest stablecoin USDC of over $70 billion, went public this June and saw its stock price skyrocket to $300 from around $30, underscoring the investor appetite to gain exposure to the stablecoin theme.

Tether, which has focused on serving emerging markets with limited U.S. dollar access, announced earlier this month it intended to formally enter the U.S. market with a dollar token dubbed USAT, designed to meet the requirements of the GENIUS Act, the nation’s first federal crypto law which sett rules for stablecoins. It also poached Bo Hines, former director of the White House Crypto Council advising President Donald Trump on crypto policies, to lead its U.S. division.

Read more: Stablecoin Market Could Reach $4 Trillion by 2030, Citi Says in Revised Forecast



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Tether And Circle Print $1.5B In Hours: Fresh Liquidity Incoming
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Tether And Circle Print $1.5B In Hours: Fresh Liquidity Incoming

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The stablecoin market is once again making headlines as two of the largest issuers, Tether (USDT) and Circle (USDC), significantly expanded supply in just hours. According to data shared by Lookonchain, Tether minted another 1 billion USDT, while Circle printed 500 million USDC only seven hours earlier. These issuances highlight how stablecoins continue to play a central role in fueling market liquidity, often acting as precursors to major shifts in crypto price action.

Stablecoins are widely used as dry powder, giving traders and institutions instant exposure to digital assets without relying on traditional banking rails. Large-scale minting events like this are typically interpreted as a sign that capital is flowing into the ecosystem, positioning the market for heightened volatility and potentially a new wave of demand. Historically, such moves have coincided with phases of increased activity across Bitcoin, Ethereum, and major altcoins.

As crypto investors brace for the next leg of market action, the timing of this combined $1.5 billion injection into USDT and USDC supply has sparked speculation. Many analysts believe the market is preparing to absorb this liquidity, setting the stage for what could be a decisive period in the weeks ahead.

Tether $1B Mint | Source: Lookonchain

Stablecoin Expansion And Market Implications

According to CryptoQuant, the combined circulating supply of Tether (USDT) and Circle’s USD Coin (USDC) now forms a significant portion of the global stablecoin market, which sits at around $147 billion. This dominance underscores the pivotal role both issuers play in shaping crypto liquidity. With Tether minting another $1 billion and Circle adding $500 million in supply, these issuances are not random — they reflect growing demand for stable trading capital and often precede decisive market moves.

Stablecoins act as a bridge between traditional finance and the crypto ecosystem, serving as the backbone for trading activity on centralized and decentralized exchanges. When supply expands rapidly, it typically signals an increase in available liquidity, providing investors with the ability to deploy capital into risk assets quickly. For Bitcoin, which recently faced heavy volatility and a sharp pullback below $115K, this influx could offer support for a continuation trend, particularly if bulls regain momentum.

For altcoins, the impact may be even more pronounced. Historically, stablecoin inflows have fueled periods of explosive growth in non-BTC assets, as traders rotate capital in search of higher returns. With USDT and USDC issuance climbing, analysts suggest that the coming days could define whether altcoins recover strongly or remain under pressure.

Stablecoin Market Cap Dominance Analysis

The chart shows that stablecoin dominance has risen sharply to 7.99%, signaling a renewed demand for safety amid recent volatility. After weeks of consolidation between 7.4% and 7.8%, the breakout above the short-term moving averages (50-day at 7.60% and 100-day at 7.63%) confirms stronger capital rotation into stable assets. This pattern often reflects heightened investor caution, with participants opting to sit in stablecoins while waiting for clearer market direction.

Crypto Stablecoin Dominance | Source: STABLE.C.D chart on TradingView

The move higher coincides with recent liquidations across Bitcoin and altcoins, where leveraged traders were wiped out. Historically, spikes in stablecoin dominance occur when traders de-risk, pulling capital from volatile assets. However, rising stablecoin reserves also indicate available liquidity that could quickly re-enter the market and fuel recovery once sentiment shifts.

If dominance continues to climb toward the 8.2–8.4% range, it may suggest further downside for risk assets in the short term. Conversely, stabilization below this level could mark a base for renewed inflows into Bitcoin and altcoins. The coming sessions will be key in determining whether this rise is a temporary flight to safety or the start of a deeper risk-off trend.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Stablecoin Titan Tether Seeks $500 Billion Valuation on $20 Billion Raise: Report

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In brief

  • Tether is seeking to raise up to $20 billion, according to a report.
  • The private raise could give the stablecoin issuer a valuation of $500 billion.
  • AI giant OpenAI and Elon Musk’s SpaceX have received similar valuations.

Stablecoin giant Tether Holdings is hoping to raise up to $20 billion in a private placement that could give the company a monetary value of up to $500 billion, Bloomberg reported on Tuesday, citing two unnamed sources.

The valuation would cast the issuer of USDT, the world’s largest stablecoin, into the ranks of artificial intelligence developer OpenAI and Elon Musk’s space transport company SpaceX, which received similar valuations.

El Salvador-based Tether is aiming to raise $15-$20 billion for an approximate 3% stake, Bloomberg reported, although an additional source said that the range was a goal and could be much lower. The sources said discussions were in the initial stages and that the deal could change.



The announcement is the latest evidence of the rising significance of stablecoins, a result of the friendlier political and regulatory environment in the U.S. under the Trump administration, including the Genius Act greenlighting the issuance and trading of stablecoins.

During a White House visit in July shortly before the passage of the legislation, Tether CEO Paolo Ardoino, told Decrypt of the firm’s plans to create USAT, a U.S.-specific stablecoin catering to different use cases than USDT, the company’s flagship stablecoin. In September, the company named Bo Hines, former executive director of the White House’s digital assets working group, to serve as USAT’s CEO.

Earlier in the summer, stablecoin rival Circle listed on the New York Stock Exchange. The stock’s debut outpaced those of tech behemoths Meta, Robinhood, and Airbnb, nearly quadrupling its initial offer price of $31. The company currently has a valuation above $30 billion, according to Yahoo Finance data.

Tether has a market cap of $172 billion, more than double Circle’s $74 billion value, according to crypto data provider CoinGecko.

On Tuesday at a conference in Seoul, Hines said during an interview that Tether has no plans to raise money, Bloomberg reported. The deal would involve new shares, not current investors selling their equity. Investment bank Cantor Fitzgerald is serving as the lead adviser.

In recent weeks, potential investors have received access to a data room as they consider their participation, the publication reported, which added that a deal is expected to close by year’s end.

According to its own attestation in July, Tether issued $20 billion in USDT through the first six months of the year and generated a net profit of $5.7 billion over this period, including $4.9 billion in its second quarter alone. The firm counts Bitcoin and gold among its holdings.

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Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B: Bloomberg

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Stablecoin giant Tether is looking to raise between $15 billion and $20 billion for about a 3% stake in the company through a private placement, Bloomberg reported, citing two people familiar with the matter.

The massive raise would bring its valuation to around $500 billion, putting it in the same league as OpenAI and SpaceX, Bloomberg reported. Tether would be issuing new equity, and Cantor Fitzgerald is acting as lead adviser.

Tether’s USDT has market cap of around $172.8 billion, making it the largest among stablecoins. Circle, which recently went public in the U.S., is the issuer of USDC, which has the second-largest market cap of $74 billion, according to CoinMarketCap data.

The report of the raise comes as Tether recently reported $4.9 billion in net profit in the second quarter and held over $162.5 billion in reserves against $157.1 billion in liabilities. It also holds about $8.9 billion in bitcoin in its reserves.

Bloomberg said that the talks of the deals are in early stages, and the final numbers of the raise could be significantly lower. According to the report, prospective investors have been given access to a data room over the past few weeks to facilitate the deal.

CoinDesk has requested Tether for comments.



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