pto

The world's most valuable private companies are AI labs: Anthropic ($965B) and OpenAI ($852B). But #3 isn't a chip maker or a social app. It's Tether, a stablecoin issuer targeting valuation of ~$500B, ahead of ByteDance, Stripe, and Revolut.

And it's not alone. Of the 10 biggest private companies on the planet, four have crypto at the core: Tether (USDT), Stripe (bought Bridge for $1.1B, Tempo Layer 1), Revolut (Revolut X + its fresh EURR stablecoin), and Ant Group (AntChain + a Hong Kong stablecoin bid).

While the market still debates whether crypto is a "real" industry, it already sits in the top ranks of global private capital, quietly.`