The federal government is investigating cryptocurrency company Tether for possible violations of sanctions and anti-money-laundering rules, according to people familiar with the matter. The criminal investigation, run by prosecutors at the Manhattan U.S. attorney’s office, is looking at whether the cryptocurrency has been used by third parties to fund illegal activities such as the drug trade, terrorism and hacking—or launder the proceeds generated by them. The Treasury Department, meanwhile, has been considering sanctioning Tether because of its cryptocurrency’s widespread use by individuals and groups sanctioned by the U.S., including the terrorist group Hamas and Russian arms dealers. Sanctions against Tether would generally prohibit Americans from doing business with the company. Tether and its cryptocurrency, also called tether, have been a matter of growing concern for federal regulators and law enforcement. Unlike more volatile cryptocurrencies, tether’s value is pegged to the dollar, making it an ideal substitute in places where use of the U.S. currency has been banned by U.S. regulators. Tether is the world’s most traded cryptocurrency, with as much as $190 billion changing hands each day. It is also a vital financing tool for several of the U.S.’s top national-security concerns. These include the North Korean nuclear-weapons program, Mexican drug cartels, Russian arms companies, Middle Eastern terrorist groups and Chinese manufacturers of chemicals used to make fentanyl, The Wall Street Journal has previously reported. https://www.wsj.com/finance/currenc...ors-probe-cryptocurrency-firm-tether-a13804e5
The ceo of Tether has denied any knowledge of these investigations Tether is #14 largest owner of US Treasuries in the whole world
I just wish there were accountability in the article instead of general statements like "prosecutors" or the Treasury department Why can't there be real names going on record or a named source, instead of these shadowy boogeymen And this was released during market hours while the bitcoin spot etf's had a net inflow of $402 Million and weekly options were about to expire and bitcoin price crashed over $2k when it was released and recovered quickly If that happened to the aapl stock or nvda or qqq, there would be some kind of investigation by the sec, but, since it's bitcoin, nada
maybe the investigation is under seal, someone leaked, often in the money laundry cases. btw, cz is out of jail, after paying nearly half billion to dc gangsters.
Are they after Tether finally? After literally more than ten years of obvious money laundering? If they manage to get rid of Tether we will see the true value of many coins, starting with Bitcoin. It is going to be interesting.
I would be more concerned about investigations into asset backing. So what if they helped launder money. TD Bank did so as well, and they paid a $3B fine. Tether makes that in 6 months on the interest that the government pays them. So let them pay a fine. Furthermore, what will they do, shut down tether? Great... who will buy $100B in treasuries? Will the Fed print more money to buy this? From what I have learned, the US government needs every entity they can find to buy treasuries. First they steal Russia's money, and now they eliminate a buyer of US treasuries? Jesus, lets just kill the dollar even faster. Lastly, if Bitcoin price goes down and USDT is gone, great, we can move onto a bitcoin standard even faster without the USD as an intermediary. Everyone says that the progression is all fiat currencies will fail against USD, and then USD will fail last. If they want to kill USDT, which helps with the global adoption of USD, then it just leads to the death of USD even faster and hyper bitcoinization faster still. Lets eliminate all the USDT trading pairs and stick with trading pairs for BTC against all other currencies and all other cryptocoins. Problem solved. Oh ya, and now the US government can't surveil any of the USDT addresses or turn any of them off. They are literally shutting down the honeypot of info and control.
I always wonder what crypto boys think that it will happen when "USD falls" I picture them with a bag of Bitcoins and a cigar, calling everyone a sore loser while they are at the top of their ivory tower. You just have to pay attention of what this wanker has just said. "All currencies will fall, and then the USD will fall" Obviously that will happen in a day and everyone will be educated and pacific enough to understand that a transition to Bitcoin is the right path to follow. Every system in the world will fail, we will not have services of any kind. Governments will collapse. And what will people do? Let's adopt Bitcoin as the true master currency, finally!