Bloomberg reports that Tether is planning to raise $15 billion to $20 billion and sell approximately 3% of its equity. - This fundraising could value Tether at around $500 billion—note, USDT's current market capitalization is around $173 billion, $500 billion vs. $173 billion. So who was previously mocking Circle's market capitalization for once approaching that of its USDC token? - Cantor Fitzgerald, a firm affiliated with U.S. Commerce Secretary Lutnick, served as lead advisor on the deal. Last year, the WSJ reported that Cantor Fitzgerald owned a 5% stake in Tether, then worth $600 million. At the new valuation, the value of these shares has soared to approximately $25 billion—an increase of more than 40 times in a single year.