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Crypto firm Tether eyes $500 billion valuation in major raise, Bloomberg News reports
Crypto giant Tether is in talks to raise as much as $20 billion in a private placement that could value the El Salvador-based firm at about $500 billion, Bloomberg News reported on Tuesday. The company is seeking $15 billion to $20 billion for roughly a 3 per cent stake, the report said, citing people familiar with the matter. Talks are at an early stage and details of the proposed investment could change. Cantor Fitzgerald is acting as the lead adviser on the deal, the report added. Tether has solidified its position as a dominant player in the stablecoin market, offering cryptocurrencies pegged to traditional ... (full story)
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