Crypto Giant Tether Seeks $500 Billion Valuation in Major Raise

Tether Holdings SA, issuer of the world’s largest stablecoin, is in talks with investors to raise as much as $20 billion, a deal that could propel the crypto firm into the highest ranks of the world’s most valuable private companies.

The El Salvador-based company is seeking between $15 billion and $20 billion in exchange for a roughly 3% stake through a private placement, according to two people familiar with the matter.