According to Mars Finance, stablecoin issuer Tether Holdings SA, which had previously planned to raise $20 billion, has suspended the plan. The company is awaiting the results of its first full financial audit and may restart fundraising after the audit results are released. Sources familiar with the matter revealed that throughout the fundraising process, potential investors and bankers have been urging Tether to increase financial transparency; however, one source indicated that some potential investors remain prepared to support the company before the audit results are released.
Stablecoin issuer Tether suspends $20 billion funding plan.
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