Tether’s return to the United States is coinciding with one of the most eye-catching private valuations in financial markets.
Secondary market transactions in February 2026 suggest the stablecoin issuer could be valued between $350 billion and $375 billion, according to a Feb. 27 Forbes report.
If sustained, that would make Tether one of the most valuable private companies in the world, rivaling big names like OpenAI and SpaceX, potentially catapult its largest shareholder above Warren Buffett in global wealth rankings.
The surge comes as the company rolls out a federally regulated stablecoin in the US under the newly enacted GENIUS Act.
Related: Major gold giant shrinks as Trump-linked firm surges
USAT launches under GENIUS Act
On Jan. 27, Tether, the world's largest stablecoin issuer, announced the launch of USAT, a federally regulated, dollar-backed stablecoin designed specifically for the United States market.
According to Tether’s official press release, USAT is issued by Anchorage Digital Bank, N.A., described as “America’s first federally regulated stablecoin issuer.” The token is structured to operate within the framework established by the GENIUS Act.
“USAT offers institutions an additional option: a dollar-backed token made in America,” Tether CEO Paolo Ardoino said in the Jan. 27 statement.
“USDT has proven for more than a decade that digital dollars can deliver trust, transparency, and utility at a global scale. USAT extends that mission by providing a federally regulated product designed for the American market.”
Tether appointed former White House Crypto Council Executive Director Bo Hines as CEO of its US unit to oversee the rollout.
“With the launch of USAT, we see a digital dollar that is designed to meet federal regulatory expectations,” Hines said.
“Our focus is stability, transparency, and responsible governance, ensuring that the United States continues to lead in dollar innovation.”
More News:
-
Nobel prize-winning economist slams 'Trump trade' for Bitcoin crash
-
Over $19 billion liquidated in worst crypto crash since COVID
A $375B valuation and a 99% profit margin
The regulatory shift arrives as secondary market transactions - private sales of company shares between investors rather than through a public exchange - reportedly value Tether between $350 billion and $375 billion.
These private-market "prints" reflect the prices institutional buyers are willing to pay for a stake in the stablecoin giant.
For context, Forbes said it currently assigns Tether a more conservative valuation of roughly $200 billion, still up sharply from an estimated $50 billion a year earlier.
At the upper end of the secondary range, Giancarlo Devasini, Tether’s CFO and largest shareholder, believed to own 44% to 45% of the company, could see his net worth exceed $156 billion, potentially surpassing Warren Buffett’s estimated $147.8 billion fortune.
Tether says it generated roughly $10 billion in profit last year, largely from interest earned on reserves backing USDT, which has a market capitalization of around $184 billion.
In an Oct. 24, 2025 interview with Bloomberg, Ardoino said:
“This year we’re going to approach another $15 billion profit. That’s very rare.”
He added that the company maintains a 99% profit margin. “There is no other company in the world that has that.”
The outsized profitability stems from Tether’s reserve model. The company invests the majority of the cash backing USDT into US Treasury bills and other short-term government securities, collecting billions in interest as rates remain elevated.
Related: Explained: What is a stablecoin?
Stablecoins to gold and venture bets
Beyond stablecoins, Tether has quietly built a sizeable balance sheet.
The company holds approximately $23 billion worth of gold and $6.4 billion in Bitcoin, alongside a venture portfolio spanning more than 120 companies valued at over $10 billion.
On July 23, 2025, Ardoino said that Tether had invested in “more than 120+ companies,” adding that the investments were funded from “Tether’s own profits (13.7B in 2024), outside of USDt (and other stables) reserves.”
On Feb. 25, Whop CEO Steven Schwartz announced that Tether would make a $200 million strategic investment in Whop, valuing the company at $1.6 billion.
“Our partnership with Tether marks a major step in building the world's largest internet market,” Schwartz wrote.
He also noted that the two companies would work together to scale stablecoin-powered payments infrastructure for Whop’s 18.4 million users.
The company also previously disclosed a $775 million investment in video platform Rumble as part of its broader push into what Ardoino has described as “freedom tech.”
Related: Bank of America resets new gold forecast
This story was originally published by TheStreet on Feb 27, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
