U.S. federal investigation into Tether triggers turmoil in crypto market
26th October 2024 – (New York) The U.S. federal government is reportedly investigating Tether, the prominent stablecoin issuer, amid concerns over its potential involvement in funding illicit activities. According to an exclusive report by The Wall Street Journal on 25th October, both the Justice Department and the Treasury Department are examining Tether’s operations, which have come under scrutiny for their widespread use in transactions linked to sanctioned individuals and groups, including Hamas and Russian arms dealers.
The investigation, led by the U.S. Attorney’s Office for the Southern District of New York, focuses on the potential use of Tether’s USDT for money laundering and…
