Valuation of 500 billion USD? A deep dive into the rise of Tether, the "wolf king" of the crypto world.Source: Mansa Finance Organized by: LenaXin, ChainCatcher
Editor’s Summary
On September 24, 2025, Tether, the world's largest stablecoin issuer, launched a new round of financing, aiming to raise $20 billion to reach a valuation of $500 billion, targeting tech giants like OpenAI and SpaceX. Behind this trillion-dollar empire stands a "crypto wolf king" who abandoned medicine for business — Giancarlo Devasini.
This Italian, once described by classmates as "extremely ambitious and adventurous," transformed from a cosmetic surgeon to the crypto godfather, rewriting the underlying logic of global finance with Tether. Today, USDT crushes its peers with a market capitalization of $172 billion, attracting giants like SoftBank and Ark Invest. However, behind the halo, controversies such as the Poland money laundering case, reserve fund misappropriation, and regulatory crackdowns have always shadowed it.
金色财经_·2025-09-28 12:25