Tether CEO denies the company ever planned $20B raise

Tether CEO Paolo Ardoino scaled back the company's $20 billion funding plan, calling the target a "misconception," while maintaining a $500 billion valuation.

Update (Feb. 4, 3:20 pm UTC): This article was updated to include a statement from Tether CEO Paolo Ardoino, and the headline has been revised to reflect the changes.

Tether, issuer of USDt — the largest stablecoin by market capitalization — denied it had ever planned to raise up to $20 billion, contrary to reports that circulated last fall.

“There has been a misconception around the capital raise, amplified by unnecessary noise and speculation rather than by anything that has materially changed,” Tether CEO Paolo Ardoino told Cointelegraph on Wednesday.

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