Tether, the world's largest stablecoin issuer, has reduced its fundraising target to $5 billion following investor skepticism over its initial $15 to $20 billion goal. CEO Paolo Ardoino clarified that the higher figure was a misunderstanding and not the company's actual target. Despite the reduced target, Tether remains profitable, reporting significant interest at a $50 billion valuation. The company, which issues the USD-linked stablecoin USDT, is seen as a major player in the digital asset market with a current scale of about $185 billion. Tether's efforts to attract prominent investors are viewed as a key indicator of interest in the crypto industry, although some investors remain cautious due to regulatory risks and the lack of a comprehensive audit. Tether has been working to enhance its credibility, including regular reserve attestations by BDO Italia.