Tether Eyes $20B Fundraising, Tokenizing Company Stock

Tether, the company behind USDT stablecoin, may tokenize its stock to provide investors with more selling options, potentially through digital tokens or stock buybacks. The company is reportedly seeking a twenty billion dollar raise, aiming for a five hundred billion dollar valuation. Tethers management is concerned about a shareholders attempt to sell at least one billion dollars worth of equity at a lower valuation, which could impact their fundraising efforts. Tethers closest competitor, Circle, went public in June with a valuation of six point nine billion dollars.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.