Bloomberg: Stablecoin issuer Tether suspends $20 billion funding plan

Stablecoin issuer Tether Holdings SA had previously planned to raise $20 billion, but this plan has been suspended as the company awaits the results of its first full financial audit. It may restart fundraising after the audit findings are released. According to sources familiar with the matter, potential investors and bankers have been urging Tether to increase financial transparency throughout the fundraising process; however, one source indicated that some potential investors remain prepared to support the company before the audit results are published. (Bloomberg)