Tether May Delay Fundraising If Demand Falls Short at $500B Valuation

Tether is currently seeking investor commitments for a fundraising round that would value the company at $500 billion. According to reports, the company is pressuring investors to commit within the next two weeks, warning that the raise may be delayed if demand falls short. This valuation would position Tether among the world’s largest financial firms, surpassing most US banks except JPMorgan Chase. While Tether’s stablecoin, USDT, has a market capitalization of $184 billion, investors have reportedly been hesitant due to the high valuation. Earlier reports suggested a potential raise of $15-$20 billion for a 3% stake, but CEO Paolo Ardoino later clarified these figures were hypothetical. Tether has also engaged KPMG for its first full audit of USDT reserves, moving beyond previous reserve attestations.

(Source：Cointelegraph)