Tether Scales Back Fundraising Ambitions Amid Investor Resistance
Tether's ambitious $20 billion capital raise has hit significant headwinds, with investor skepticism forcing a dramatic downsizing of plans. The stablecoin issuer now eyes a potential $5 billion round—a quarter of its original target—after pushback against a proposed $500 billion valuation.
CEO Paolo Ardoino clarified the controversial valuation figure represented an upper boundary for share pricing, not a firm target. "We've seen strong interest, but existing shareholders' reluctance to dilute their positions has slowed progress," Ardoino told the Financial Times. The internal stalemate mirrors last year's challenges when shareholder exit strategies complicated earlier fundraising efforts.