- Tether CEO Paolo Ardoino confirms no stock market listing plans, regardless of potential company valuation estimates.
- Artemis CEO Jon Ma values Tether at $515B, ranking it above Costco and Coca-Cola globally.
Tether CEO Paolo Ardoino stated that he has no plans to take the company public, regardless of its market valuation. According to Artemis CEO Jon Ma, Tether could be worth around $515 billion if it listed today. That figure would place Tether ahead of established firms like Costco and Coca-Cola.
Ardoino responded on X, calling the $515 billion estimate “a beautiful number” and acknowledging the strength of Tether’s Bitcoin and gold reserves. However, he emphasized that the company does not need to pursue an initial public offering. He noted that Tether’s treasury continues to grow, but added that going public remains unnecessary.
No need to go public.
— Paolo Ardoino 🤖 (@paoloardoino) June 7, 2025
Last week, Circle, the second-largest stablecoin issuer, debuted on the New York Stock Exchange. Its shares opened at $69, a 122 percent rise over its $31 IPO price. Moreover, within two trading days, the stock climbed above $123, almost tripling from its initial price.
“Tether valuation at $515 billion is a beautiful number. Maybe a bit bearish considering our current (and increasing) Bitcoin + Gold treasury, yet I’m very humbled. Also truly excited for the next phase of growth of our company.”
Despite Circle’s success, Ardoino said Tether will remain privately held. He argued that Tether has sufficient capital and does not require the additional funds that an IPO could provide. He also hinted at long-term growth opportunities for the company, without needing public markets to support its expansion.
Meanwhile, industry observers have noted that Tether’s decision contrasts with Circle’s approach. Some analysts believe that a public listing could bring more transparency to Tether’s operations. Others argue that remaining private allows Tether to move faster on strategic decisions.
Furthermore, Tether’s market share in stablecoins exceeds that of USDC. Tether’s dominance rests on its broad use in trading and DeFi applications. Therefore, Ardoino may feel confident in the company’s ability to grow without tapping public markets.
However, questions remain about how regulators might view Tether in the future. As governments examine stablecoin practices, some observers suggest that being public could preempt regulatory scrutiny. On the other hand, private status might shield Tether from certain disclosure requirements.
