### Tether CEO Dismisses Going Public Amidst Rival Circle's Market Debut

Paolo Ardoino, CEO of Tether, has firmly stated that the stablecoin issuer has no plans to go public, a sentiment he shared just days following Circle's successful debut on the New York Stock Exchange (NYSE). Circle, known for its stablecoin USDC, saw its shares soar by 167% on their first trading day on June 5.

Addressing rumors and speculative valuations, Ardoino asserted on June 7, “No need to go public." This comment comes in response to Artemis CEO Jon Ma, who speculated that Tether, the issuer of USDT, could achieve a valuation of $515 billion if it went public. This figure would position Tether as the 19th largest company globally, surpassing well-known multinationals like Costco and Coca-Cola. Ardoino found this valuation impressive, referring to it as a “beautiful number,” but suggested it might actually be an underestimate. Considering Tether's holdings in Bitcoin and gold, Ardoino hinted that a higher valuation could be more accurate.

Bitcoin advocates Anthony Pompliano and Jack Mallers have even proposed that Tether could one day reach a $1 trillion valuation. Ardoino expressed his excitement about the company’s future growth prospects, indicating that he believes Tether's value will continue to rise.

Currently, Tether's USDT ranks as the third-largest cryptocurrency by market capitalization, valued at $154.83 billion according to CoinMarketCap. The company's investment strategies are also making waves; on April 24, Tether became the majority owner of Twenty One Capital. Founded by Jack Mallers of Strike, Twenty One Capital has quickly risen to become the third-largest corporate holder of Bitcoin, trailing only Strategy and MARA Holdings.

In a significant move reported by Cointelegraph on June 3, Tether transferred 37,229.69 Bitcoin, valued at approximately $3.9 billion, to addresses associated with the new Bitcoin-native financial platform. This transfer underscores Tether’s significant presence and influence in the cryptocurrency market.