1.1M @coinbureau 💸 TETHER DROPS $20BN FUNDING TARGET
Tether has backed off plans to raise up to $20B after investor pushback over a $500B valuation.
Tether CEO Paolo Ardoino said the $15–$20B target was a “misconception.”
Now advisers are considering a much smaller fundraise around $5B instead.
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171.6K @wublockchain12 According to FT, Tether, after investors questioned its $500 billion valuation, has reduced the originally planned financing amount of $15–20 billion, with advisory proposals even discussing a minimum financing of about $5 billion. Tether CEO Paolo Ardoino said that the high financing target as understood by the outside is a misunderstanding; the figure is only the "sellable ceiling," and the company could fully accept even without financing. Tether's profit last year was about $10 billion, mainly from USDT reserve asset yields. Some potential investors still have concerns about its valuation, regulatory risks and reserve transparency; previously S&P Global Ratings had downgraded its reserve rating. https://t.co/u1fUq0MTv9
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9.0K @tokenpostkr Tether's investment attraction scale reduced to $5 billion due to corporate valuation controversy.
https://t.co/t4H2BKrvTJ https://t.co/Ljst0PQ0Cf
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