Tether reduces its fundraising target to $5 billion following investor concerns

Tether has reduced its fundraising target significantly, responding to investor pushback and now considering a raise as low as 5 billion USD.

CEO Paolo Ardoino clarified that the previous higher figure was a maximum willingness and Tether is fine with not raising any capital.

Last year, Tether earned around 10 billion USD primarily from profits on its USDT reserves.