{"id":119697,"date":"2024-10-29T13:57:47","date_gmt":"2024-10-29T06:57:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=119697"},"modified":"2024-10-29T13:57:47","modified_gmt":"2024-10-29T06:57:47","slug":"tether-ceo-slams-federal-probe-claims-no-knowledge-of-any-such-investigations","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=119697","title":{"rendered":"Tether CEO slams federal probe claims: &#8216;No knowledge of any such investigations&#8217;"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em>Tether faces an investigation over alleged ties to illegal activities and sanctioned entities.<\/em><\/li>\n<li><em>Despite the scrutiny, Tether explores opportunities for growth in the commodity sector.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/category\/stablecoins\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Stablecoins<\/a> have emerged as a transformative force in the cryptocurrency landscape this year, particularly highlighted by the competition between Circle\u2019s USDC and <a href=\"https:\/\/ambcrypto.com\/tethers-5-58b-bitcoin-reserves-a-move-to-strengthen-usdt\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Tether\u2019s USDT<\/a>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/visaonchainanalytics.com\/transactions\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Visa on-chain analytics<\/a> further indicated that USDT recorded a transaction volume of $6.47 billion, significantly overshadowing USDC\u2019s $2.08 billion as of 27th October.\u00a0<\/span><\/p>\n<div id=\"attachment_437631\" style=\"width: 2150px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Stablecoins.webp\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437631\" class=\"wp-image-437631 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Stablecoins.webp\" alt=\"USDT vs USDC\" width=\"2140\" height=\"1006\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Stablecoins.webp 2140w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Stablecoins-300x141.webp 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Stablecoins-1024x481.webp 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Stablecoins-768x361.webp 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Stablecoins-1536x722.webp 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Stablecoins-2048x963.webp 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Stablecoins-1200x564.webp 1200w\" sizes=\"auto, (max-width: 2140px) 100vw, 2140px\"\/><\/a><\/p>\n<p id=\"caption-attachment-437631\" class=\"wp-caption-text\">Source: Visa on-chain analytics<\/p>\n<\/div>\n<h2>Tether under threat?<\/h2>\n<p><span style=\"font-weight: 400;\">Amid this surge in USDT\u2019s popularity, the <a href=\"https:\/\/www.wsj.com\/finance\/currencies\/federal-investigators-probe-cryptocurrency-firm-tether-a13804e5\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Wall Street Journal reported<\/a> that the U.S. Attorney\u2019s Office in Manhattan was investigating USDT for potential involvement in illegal activities, including drug trafficking, terrorism financing, and money laundering.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, things took a different turn when Tether\u2019s CEO claimed that there were no signs of a federal probe.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Taking to X, Tether\u2019s CEO <a href=\"https:\/\/x.com\/paoloardoino\/status\/1849876338573799912\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Paolo Ardoino<\/a> noted,\u00a0<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cAs we told to WSJ there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/tether.io\/news\/tether-slams-wsjs-irresponsible-reporting-stands-by-strong-law-enforcement-track-record\/\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Tether echoed<\/a> this sentiment and asserted,<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cThese stories are based on pure rank speculation despite Tether confirming that it has no knowledge of any such investigations into the company.\u201d\u00a0<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">They added,\u00a0<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cThe article also carelessly glosses over Tether\u2019s well-documented and extensive dealings with law enforcement to crack down on bad actors seeking to misuse tether and other cryptocurrencies.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">However, WSJ stood firm suggesting that investigators were examining whether the stablecoin has inadvertently facilitated transactions for sanctioned entities.<\/span><\/p>\n<h2>What\u2019s going on with Tether?<\/h2>\n<p><span style=\"font-weight: 400;\">For those unaware, the U.S. prosecutors were investigating the stablecoin provider\u2019s \u00a0over allegations of its involvement in illicit activities particularly in relation to sanctioned groups such as Russian arms dealers. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, the Treasury Department was contemplating sanctions that would bar U.S. citizens from transacting with USDT, which boasts an impressive trading volume averaging $190 billion daily. <\/span><span style=\"font-weight: 400;\">Concerns about Tether\u2019s connections to national security issues, including North Korea\u2019s nuclear ambitions and ties to Mexican drug cartels, have intensified scrutiny of the stablecoin. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In light of these accusations, Tether has firmly denied any wrongdoing, highlighting its commitment to cooperating with law enforcement and recent compliance measures. This included freezing 1,850 wallets and bolstering its regulatory framework with expert hires.<\/span><\/p>\n<h2>What\u2019s more to it?<\/h2>\n<p><span style=\"font-weight: 400;\">The investigation has drawn comparisons between Tether\u2019s operational practices and those of FTX. Further exacerbating doubts about its business model and adherence to regulations. <\/span><span style=\"font-weight: 400;\">Reports also indicate that USDT may have enabled users in countries like Venezuela and Russia to bypass sanctions. This raised alarms about the potential misuse of USDT by state-owned enterprises and criminal organizations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the ongoing scrutiny surrounding its operations, USDT was actively pursuing several strategic developments for the upcoming year. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recent reports indicated that the stablecoin issuer is considering an entry into the commodity sector, which could provide significant opportunities for growth.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">If successful, this venture could enable USDT to capitalize on credit-starved businesses. This would position Tether as a key player in a new market while potentially enhancing its revenue streams.\u00a0<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"previous-blog\">\n\t\t\t\t\t\t\t\t\t\t\tPrevious: <a href=\"https:\/\/ambcrypto.com\/cardanos-downturn-vs-dogecoins-resurgence-who-will-hit-1-first\/\" rel=\"next\" data-wpel-link=\"internal\">Cardano\u2019s downturn vs Dogecoin\u2019s resurgence \u2013 Who will hit $1 first?<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<div class=\"next-blog\">\n\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/is-xrp-primed-for-a-breakout-rising-activity-strong-metrics-signal\/\" rel=\"prev\" data-wpel-link=\"internal\">Is XRP primed for a breakout? Rising activity, strong metrics signal\u2026<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/tether-ceo-slams-federal-probe-claims-no-knowledge-of-any-such-investigations\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether faces an investigation over alleged ties to illegal activities and sanctioned entities. Despite the scrutiny, Tether explores opportunities for growth in the commodity sector. Stablecoins have emerged as a &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=119697\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-119697","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=119697"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119697\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=119697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=119697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=119697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}