Tether CEO downplays size of planned funding round following reports of high valuation goal
Paolo Ardoino has downplayed the expected scale of a Tether funding round. This follows investor pushback against a reported five hundred billion dollar valuation.
Insights:
Tether Chief Executive paolo ardoino has publicly downplayed the intended size of an upcoming funding round. This shift follows reports that the company, which issues the USDT (Tether's stablecoin) , was seeking a valuation as high as $500 billion. Speaking to the Financial Times , paolo ardoino indicated that the previously reported valuation figure was not a primary objective but rather a maximum threshold for equity sales.
The current climate of investor reluctance has prompted Tether's advisers to float significantly smaller fundraising targets for Tether. According to the Financial Timesreport, these Tether's advisershave suggested raising as little as $5 billion. This is a sharp decrease from discussions held last year, which involved potential fundraises ranging from $15 billion to $20 billion. Despite the reported downscaling, paolo ardoino told the publication that Tetherhas received considerable interest at the $500 billion valuation level, noting that some potential equity sales remain undecided due to insiders being hesitant to unload shares.
