Tether scales back $20 billion funding ambitions after investor resistance: FT

Tether has quietly pulled back from plans to raise as much as $20 billion in fresh capital after facing investor resistance to a proposed valuation that would rank the stablecoin issuer among the world’s most valuable private companies, per an FT report on Wednesday. The company, which issues the USDT stablecoin with over $185 billion in circulation, had explored a funding round last year that could have valued Tether at around $500 billion, according to people familiar with the talks. Advisers have sin ...