According to individuals with knowledge of the matter, Paolo Ardoino, the Chief Executive Officer of stablecoin issuer Tether, has significantly reduced the fundraising target for a new funding round due to investor opposition to its $500 billion valuation goal.
The sources indicated that after encountering resistance from investors, Tether's advisors have proposed a potential capital raise of just $5 billion, a stark contrast to the $15 to $20 billion fundraising discussions that took place last year.
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