Tether Halts $20 Billion Funding Plan Pending Audit, Bloomberg Reports

On March 24, according to disclosures by Bloomberg, stablecoin issuer Tether Holdings SA had previously planned to raise $20 billion in funds, but this plan has now been suspended. The company is awaiting the results of its first comprehensive financial audit and may restart fundraising after the audit is completed. Sources familiar with the matter revealed that throughout the financing process, potential investors and bankers have been urging Tether to increase financial transparency. However, one of these sources indicated that some potential investors remain prepared to support the company even before the audit results are released.