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Tether advisors have floated a $5 billion raise, down from $20 billion, after investor resistance to a $500 billion valuation, per the FT.
Advisers are now discussing a smaller fundraising of roughly $5 billion, as prospective backers question both the size of the deal and Tether’s lofty valuation.
The reported acquisition comes as Ethereum staking demand surges, with more than 30% of ETH supply locked and validator wait times stretching beyond 70 days.
The flows are indicative of a growing split in how investors are positioning across major crypto assets during the latest bout of market volatility.
Flows and on-chain data signaled defensive positioning, as crypto investment products logged $1.7 billion in weekly outflows.
Tokenized silver futures logged one of the largest wipeouts across crypto markets, overtaking the usual leaders bitcoin and ether.
Analysis of 227 million USDC and USDT balance updates found that 43% were dust transfers under $1, said Coin Metrics.
The firm said unrealized losses are expected in a downturn, arguing its ethereum-heavy balance sheet is designed to track and outperform ETH over a full market cycle.
Kraken co-CEO Arjun Sethi said Payward’s revenues were “well balanced” in 2025, split almost evenly between trading and asset-based revenues.
The Ethereum co-founder said many layer‑2s have failed to decentralize and continue to be mediated by multisig bridges instead of inheriting Ethereum’s security advantages.
Some layer-2 networks have made concessions when it comes to decentralization, Buterin said, and shouldn’t be “branded” as extensions of Ethereum.
Crypto traders usually view negative funding rates as a buy signal, but this week’s volatility US earnings outcome may cloud the value of the signal for ETH investors.
