Tether aims to raise up to $200 billion, positioning itself among global tech giants, while Plasma's $1 billion transfer to USDT0 signals preparations for cross-chain stablecoin liquidity.
Tether is raising between $150 billion and $200 billion in a private fundraising round, potentially valuing the company at $500 billion, making it comparable to tech giants like OpenAI and SpaceX. The company reported a quarterly net profit of $4.9 billion. Plasma has transferred over 1 billion USDT to USDT0 in anticipation of its mainnet launch, focusing on providing institutional-grade stablecoin infrastructure. The broader crypto market remains weak, with Ethereum approaching the $4,000 mark.