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Leader of the Opposition in the Lok Sabha Rahul Gandhi on Tuesday wrote to Speaker Om Birla, lodging a strong protest after being barred from speaking on a matter of national security, calling the move as a “blot on our democracy." In his letter
Arsenal secured their first League Cup final appearance in eight years with a 1-0 victory over Chelsea in the semi-final second leg on Tuesday, thanks to Kai Havertz's late goal. Mikel Arteta's team had taken the advantage in the first leg, and Havertz's goal off the bench sealed a 4-2 aggregate
Thousands of backers of Venezuela's former leader Nicolas Maduro, who was ousted in a deadly US military operation, marched in Caracas on Tuesday to demand his freedom. The law has not yet come before parliament, whose leader is the acting president's brother, Jorge Rodriguez
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Tether retreats from $20 billon funding ambitions after investor pushback: Report
Crypto group Tether Chief Executive Paolo Ardoino has downplayed the amount of money it will raise in a new funding round following investor pushback over its $500-billion valuation goal, the Financial Times reported on Wednesday.
Tether's advisers have floated raising as little as $5 billion after facing investor reluctance, the report said, citing people familiar with the matter, following talks of a $15 billion to $20 billion fundraise last year.
El Salvador-based Tether is the issuer of the world's most widely used USDT stablecoin, a digital dollar with $187 billion worth of tokens in circulation.
Bloomberg News reported in September last year that Tether was seeking between $15 billion and $20 billion for about a 3% stake through a private placement that could value it at as much as $500 billion.
Calling the initial funding target a "misconception", CEO Ardoino told the FT: "that number is not our goal. It's our maximum we were ready to sell."
Ardoino told the FT that Tether had "received a lot of interest" at the $500 billion valuation, with undecided equity sales in part because insiders are reluctant to unload shares.
Reuters could not immediately verify the FT report. Tether did not immediately respond to a Reuters request for comment.
Last month, Ardoino told Reuters that Tether's 2026 profit is expected to exceed the $10 billion it is estimated to have earned in 2025 and possibly the $13.7 billion earned in 2024.
Tether has strengthened its position in the stablecoin market by offering cryptocurrencies pegged to traditional currencies to reduce volatility and ease transfers between digital assets.
Source: EconomicTimes
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