ChainCatcher news, according to Bloomberg, Cantor Fitzgerald LP is facing significant pressure as it pitches Tether Holdings to investors at a potential valuation of $500 billions.
If Tether achieves its goal and raises approximately $15 billions, the value of the Tether shares held by this investment bank could reach as much as $25 billions. Over a year ago, this New York investment bank purchased convertible bonds of Tether for more than $600 million, which granted it a 5% equity stake. If the deal succeeds, it will not only bring enormous wealth to Tether's founders but also generate considerable returns for Cantor, with the investment bank expected to reap tens of billions of dollars in profit. The terms of the share sale are still evolving. It is currently unclear what valuation the deal might reach, or whether the bank will be allowed to convert the bonds into equity and sell part of its holdings to new investors.