Tether slams WSJ report alleging US probe as irresponsible reporting
Tether CEO Paolo Ardoino denied reports about the firm being under investigation in the US.
Ardoinos clarification comes after a Wall Street Journal report claimed that federal prosecutors in Manhattan are allegedly investigating the stablecoin issuer.
Ardoino said:
WSJ is regurgitating old noise. Full stop.
Tether also denied the claims of an investigation in an official statement and slammed the Wall Street Journal for irresponsible reporting.The firm added:
These stories are based on pure rank speculation despite Tether confirming that it has no knowledge of any such investigations into the company.
Tether also stated that the article glossed over its well-documented efforts to crackdown on bad actors in collaboration with authorities around the world.
The probe allegations come after Tether reiterated its commitment to law enforcement in September. The crypto company revealed the establishment of a dedicated External Investigations Unit staffed with former law enforcement officers, prosecutors, and forensic analysts.
Furthermore, Tether stated it had aided 180 agencies across 45 jurisdictions, frozen over 1,850 wallets tied to illicit activities, recovered nearly $114 million, and blocked $225 million connected to fraud before receiving legal orders.
Rumors of a probe
According to the WSJ report, the investigations are allegedly related to potential sanctions violations and money-laundering abuses related to Tether USD (USDT).
The report cited anonymous sources who claimed that US officials are examining whether third parties have used USDT to fund activities tied to drug trafficking, terrorism, and cybercrime or to launder illicit proceeds.
Additionally, the newspaper claimed that the Treasury Department is allegedly weighing sanctions against Tether due to its high usage among sanctioned entities, including groups like Hamas and Russian arms dealers
The post Tether slams WSJ report alleging US probe as irresponsible reporting appeared first on CryptoSlate.
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Text source: CryptoSlate
