Tether retreats from $20 billon funding ambitions after investor pushback: Report
Crypto group Tether Chief Executive Paolo Ardoino has downplayed the amount of money it will raise in a new funding round following investor pushback over its $500-billion valuation goal, the Financial Times reported on Wednesday.
Tether’s advisers have floated raising as little as $5 billion after facing investor reluctance, the report said, citing people familiar with the matter, following talks of a $15 billion to $20 billion fundraise last year.
El Salvador-based Tether is the issuer of the world’s most widely used USDT stablecoin, a digital dollar with $187 billion worth of tokens in circulation.
