Tether (USDT) Reduces $20 Billion Funding Goal Amid Investor Pushback, Reports Financial Times

Stablecoin issuer Tether has reportedly scaled back its ambitious plans to raise up to $20 billion in funding. According to a report by the Financial Times, the company faced significant resistance from potential investors. Initially, Tether aimed to secure capital by offering equity in the company, with a valuation target of around $20 billion. However, investor skepticism regarding the proposed structure and valuation has led to a downsizing of these fundraising ambitions. The report indicates that Tether is now seeking a smaller, undisclosed amount. This development highlights the challenges major players in the crypto sector face when seeking traditional investment, despite Tether's dominant position in the stablecoin market with its USDT token.