Tether Considers Tokenizing Stock Amid $20 Billion Fundraise: Bloomberg [Yahoo! Finance]
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Source: Yahoo! Finance
The private company's executives are weighing tokenized representations of its shares as a way to provide liquidity to Tether's investors, as well as buybacks, according to people familiar with the matter. Meanwhile, Tether is trying to raise $20 billion at a $500 billion valuation, the publication said. A shareholder, which Bloomberg couldn't identify, was interested in selling at least $1 billion worth of equity in Tether at a $280 billion valuation. The company's management was reportedly concerned that sales at a lower valuation could hamstring Tether's fundraising efforts. In a statement to Bloomberg , a spokesperson said that “it would be imprudent, and indeed reckless, for any investor to attempt to circumvent the established process led by Tier 1 global investment banks or to engage with parties not authorized by Tether's management.” The firm has confidence that any associated efforts “will not proceed,” the spokesperson added. Decrypt has reached out to Tether for c
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