In just over a decade, Tether has grown from an idea into a global crypto juggernaut, poised to become one of the world’s most highly valued private companies. But where did its dollar-linked stablecoin come from and where is it headed?

On today’s Big Take podcast, Bloomberg reporter Todd Gillespie and guest host Stacey Vanek Smith unpack one of the most powerful companies you’ve (maybe) never heard of.

Read more: With Billions to Spend, Tether Finds New Allies in Washington

As Lutnick Sold Cantor to His Children, Tether Gave Them a Loan

Hosted by Stacey Vanek Smith; Produced by David Fox; Reported by Todd Gillespie, Ryan Weeks, Annie Massa; Edited by Aaron Edwards, Janet Paskin.

Fact-checking by Rachael Lewis-Krisky, Eleanor Harrison-Dengate; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

In just over a decade, Tether has grown from an idea into a global crypto juggernaut, poised to become one of the world&rsquo;s most highly valued private companies. But where did its dollar-linked stablecoin come from and where is it headed?
On today&rsquo;s Big Take podcast, Bloomberg reporter Todd Gillespie and guest host Stacey Vanek Smith unpack one of the most powerful companies you&rsquo;ve (maybe) never heard of.
Read more: <a href="https://www.bloomberg.com/features/2026-tether-usa-crypto-ambitions">With Billions to Spend, Tether Finds New Allies in Washington</a>
<a href="https://www.bloomberg.com/news/features/2026-03-18/tether-made-loan-to-lutnick-s-children-as-they-bought-his-assets">As Lutnick Sold Cantor to His Children, Tether Gave Them a Loan</a>
Hosted by Stacey Vanek Smith; Produced by David Fox; Reported by Todd Gillespie, Ryan Weeks, Annie Massa; Edited by Aaron Edwards, Janet Paskin.
Fact-checking by Rachael Lewis-Krisky, Eleanor Harrison-Dengate; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

Meet Tether: The Most Powerful Crypto Firm You’ve Never Heard Of

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a586714e-7006-4701-a3fb-b426014195de/transcript