#数字资产生态回暖 Tether, the giant stablecoin issuer, has recently been making big moves—planning to sell up to $20 billion worth of stock, while also busy researching how to allow investors to cash out smoothly in the future. In simple terms, this is about finding a balance: raising funds to expand the scale, while ensuring participants have an exit route.

According to sources, Tether's liquidity plan mainly considers two approaches. One is the traditional method—share repurchase, where the company uses its own funds to buy back shares, allowing shareholders to sell to the company if they want to cash out. The other is a new approach in the blockchain space—tokenizing the company's shares and moving them onto the blockchain, so that equity can be traded like digital assets. Interestingly, the second approach aligns well with Tether's nature, since they are already deeply involved in the blockchain ecosystem.

What's noteworthy is that Tether has already taken action—preventing some existing shareholders from selling off early, thereby stabilizing the shareholding structure. This move has cleared obstacles for the upcoming large-scale financing. The current question is: how to satisfy shareholders' liquidity needs and stimulate investment enthusiasm, without causing frequent equity changes that could disrupt operations and affect business continuity. The trade-offs here are quite delicate.

Overall, Tether's combination of large-scale fundraising and innovative liquidity solutions reflects the gradual convergence of the crypto market and traditional finance systems. As the backbone of the crypto ecosystem, stablecoins like Tether are setting an example for other projects. The plan is still being refined, and we’ll see how it unfolds. $ETH$BTC