The most notable trend in the crypto industry this week is the acceleration of traditional finance's integration into cryptocurrency infrastructure. Specifically, with Tether's ongoing large-scale fundraising and US financial authorities re-examining the feasibility of on-chain trading of existing stocks, the convergence of the Securities and Exchange Commission (SEC), Wall Street, and tokenization is becoming a reality.
According to Bloomberg, Tether is preparing to raise up to $2 billion (approximately KRW 2.78 trillion), and this round could value the company at up to $50 billion (approximately KRW 69.5 trillion). This raises the possibility that Tether could join global technology unicorns like OpenAI. Major venture capitalists currently in investment discussions are reportedly SoftBank Group and ARK Investment Management.
Tether CEO Paolo Ardoino declined to comment on the specifics of the funding structure, saying only that he was "exploring new funding options with a small number of key investors." Tether is the issuer of the world's largest stablecoin, USDt (USDT), and boasts one of the world's highest profitability per employee.
Recently, Tether has been pursuing a sustainable growth strategy by diversifying its portfolio beyond simple interest income as its revenue source, encompassing infrastructure construction, energy production, and venture investments. This strategy is interpreted as a strategic move beyond short-term goals, blurring the lines between traditional finance and blockchain technology and establishing itself as a centerpiece of a new digital financial ecosystem.
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