Tether Drops $20 Billion Funding Plan After Investor Pushback

The post Tether Drops $20 Billion Funding Plan After Investor Pushback appeared first on Coinpedia Fintech News

Tether has pulled back its fundraising plans after investors raised concerns about a reported $500 billion valuation, the Financial Times reported. The company had earlier considered raising $15–20 billion, but advisers are now discussing a much smaller amount of about $5 billion. CEO Paolo Ardoino said the higher figure was only the maximum Tether was willing to raise. He added that the company, which made around $10 billion last year from USDT reserves, is comfortable not raising any new funds.