SoftBank Group and ARK Invest could be potential investors in a major funding round at the largest stablecoin issuer, Tether, Bloomberg Law reported on Sep. 26.
The tech-focused investors are among several high-profile financiers who are eyeing an investment in the stablecoin giant, the publication cited sources familiar with the matter to report.
Tether seeks $15B-$20B
Founded in 2014, Tether is one of the world's largest crypto companies. In 2017, it launched a stablecoin called USDT.
A stablecoin is a type of cryptocurrency that tries to keep its price stable by being pegged to a fiat currency like the U.S. dollar or a commodity like gold. USDT, for instance, is pegged 1:1 to the dollar, which means that each USDT is backed by one dollar.
As per DeFiLlama , USDT has a market cap of $173.5 billion which makes it the world's largest stablecoin.
Related: What are yield coins? Yield bearing assets explained
In the latest funding round, the private company is seeking between $15 billion and $20 billion for approximately a 3% stake at a valuation as high as $500 billion.
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No strangers to crypto
Cathie Wood's ARK Invest is a well-known investor in the crypto sector. Through its funds, the investment company has stakes in public crypto companies like Tether's stablecoin rival Circle Internet Group (NYSE: CRCL), Coinbase Global (Nasdaq: COIN), Robinhood Markets (Nasdaq: HOOD), etc.
SoftBank, the Japanese tech-focused investment behemoth, had joined forces with Tether, Cantor Fitzgerald, and Bitfinex to launch the Bitcoin treasury firm Twenty One in April.
Now, another financial relationship seems to be unfolding.
This story was originally reported by TheStreet on Sep 26, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
