On March 25, Bloomberg reported that sources revealed stablecoin issuer Tether Holdings SA has suspended its $20 billion fundraising plan. It is awaiting the results of its first full financial audit and may restart fundraising after the audit findings are released.
During the fundraising process, potential investors and bankers have repeatedly urged Tether to increase its financial transparency, but some potential investors are still prepared to support the company until the audit results are released. Tether has now hired an accounting firm to conduct an audit.
