Tether, a financial firm in El Salvador, is urging investors to commit to a fundraising round at a $500 billion valuation within two weeks and may delay the raise if demand falls short. The company has been seeking fresh capital since late last year but has faced resistance from investors wary of the valuation. The target would place Tether among the world's largest financial firms, exceeding every US bank except JPMorgan Chase. The firm's CEO, Paolo Ardoino, defended the $500B valuation, comparing the company's profits to AI platforms like OpenAI. Tether has reportedly hired KPMG to conduct its first full audit of its financial statements, following years of relying on reserve attestations from BDO Italia rather than a comprehensive audit.