Tether Pulls Back $20B Fundraise Amid Investor Doubts

Tether, the issuer of the world’s largest stablecoin USDT, has dramatically scaled back plans for a mega-fundraise after institutional investors raised concerns over the company’s valuation and market timing. A report from the Financial Times suggested that Tether was considering raising as much as $20 billion, valuing the company at nearly $500 billion.  However, advisers and market participants questioned the feasibility of such numbers, given the current crypto market environment.  Sources now say Tether is exploring a much smaller funding round, closer to $5 billion, reflecting a more cautious approach aligned with investor appetite. Paolo Ardoino, Tether’s CEO, sought to clarify the

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