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The US government has announced a formal investigation into the cryptocurrency company Tether, developer of the USDT stablecoin. The Wall Street Journal reports that authorities are looking into possible violations of anti-money laundering and sanctions rules by the company. However, the company’s CEO said this study was not true.JUST IN: 🇺🇸 US government begins investigation $USDT Cryptocurrency company Tether.— Watcher.Guru (@WatcherGuru) October 25, 2024The WSJ reported that the criminal investigation will be conducted by prosecutors from the U.S. Attorney’s Office in Manhattan. Authorities are investigating whether stablecoins were used by third parties to fund illegal activities. These crimes are as…
The Virtual Society Foundation, an independent organization started by a British start-up, has released technical details of its blockchain project Somnia. This announcement includes the latest whitepaper and platform development specifications. 🚀🦾 I’m so happy to share it @Improbableio is developing the Somnia blockchain, the fastest EVM l1 that integrates the entire world’s data fully on-chain. 🤝https://t.co/23wamsRTV7 With over a decade of expertise in virtual world building, they are now helping us build. pic.twitter.com/ebu9GW0UkG — Somnia – A complete on-chain world (@Somnia_Network) October 24, 2024 Somnia claims to have 400,000 TPS The project received initial funding through MSquared’s $150 million…
Tether CEO Paolo Ardoino denied reports that lawmakers are investigating the major cryptocurrency company for possible violations of anti-money laundering and sanctions laws. According to the Wall Street Journal, a reported investigation led by Manhattan prosecutors is investigating whether Tether’s cryptocurrency (USDT) is funding illegal activities such as drug trafficking or terrorism, or whether funds from these activities are being used. The focus is on whether it was used for cleaning. At the same time, WSJ reported that the US Treasury Department is considering sanctions against Tether. Sanctions could prevent Americans from doing business with the company. The main reason…
The US government’s investigation into Tether (USDT) has shocked the crypto market. After starting an upward trend following the Federal Reserve’s interest rate cut, cryptocurrencies fell sharply on the news. According to information obtained by the Wall Street Journal (WSJ), US federal law enforcement authorities are scrutinizing the cryptocurrency company Tether for allegedly violating sanctions and anti-money laundering regulations. The criminal investigation, led by prosecutors from the Manhattan U.S. Attorney’s Office, found that Tether’s virtual currency was not used by third parties to launder or launder proceeds from illegal activities such as drug trafficking, terrorism, or computer hacking. Investigate whether…
Tether, a leading stablecoin issuer, is currently under investigation by the US government, according to a Friday report in the Wall Street Journal. The investigation aims to determine whether Tether violated anti-money laundering rules and sanctions. The report states that stablecoin issuers have been targeted by the Treasury Department for “extensive” sanctions violations. Americans could be banned from doing business with Tether. Following this report, the price of Bitcoin plummeted and is currently trading at $65,971 on the Bitstamp exchange. It has fallen more than 3% in the past 24 hours. BTC/USD by TradingView.com”Old noise”That said, Tether CEO Paolo Ardoino…
The US Department of Justice has launched an investigation into stablecoin company Tether, according to a new report. A criminal investigation into the company and its dollar-pegged stablecoin USDT is underway, led by the U.S. Attorney’s Office in Manhattan, the Wall Street Journal reported. The Justice Department is investigating “possible violations” of sanctions and anti-money laundering rules, according to people familiar with the matter. Reacting to the news, Tether CEO Paolo Adroino said there was “no indication” the company was pursuing any investigation, Reuters reported. The Wall Street Journal report triggered a small depegging of USDT, and the coin, which…
October 25, 2024 2:07 PM EDT |Source: ZEX PR WIRE Dubai, United Arab Emirates–(Newsfile Corp. – October 25, 2024) – The 13th edition of the Blockchain Life Forum, the premier gathering of crypto leaders from around the world, recently attracted 12,119 attendees. The event ended with an amazing number of participants.Figure 1: Blockchain Life 2024: Cryptocurrency community leaders from 120 countries gather in DubaiThis forum will include executives from industry pioneers and top companies such as OKX, CoinMarketCap, Bitmain, Bybit, Binance, Animoca Brands, Circle, BingX, ICP, Kraken, TON, Sandbox, Polygon, Litecoin, Sui, BNB, and more. More than 200 prominent…
Analysts who nailed Bitcoin’s pre-halving correction this year believe that BTC is gearing up for a major breakout. Pseudonymous analyst Recto Capital told his 507,400 followers on social media platform Ta. “Bitcoin is still in the ‘reaccumulation near all-time highs’ phase (green circle), but it won’t last for too long.” Source: Rekt Capital/X Analysts then believe that Bitcoin will reach its cycle peak in about a year, based on how long it previously took for BTC to reach its cycle peak after a halving event that cuts miners’ rewards in half. suggests that it is possible to reach. Bitcoin’s most…
Tether CEO Paolo Ardoino said the cryptocurrency company has no immediate plans to go public. The CEO of Tether (USDT) shared his company’s views on the need for an initial public offering in comments given to FOX journalist Eleanor Terret. Mr. Terrett posted this on X on October 25th. Notably, Ardoino’s position is consistent with recent comments from Ripple CEO Brad Garlinghouse. In his remarks, Ardoino explained that stablecoin issuers view IPOs as a move that prevents them from moving quickly. Going public would also undermine Tether’s mission to continue “challenging the status quo.” Tether CEO explains why there is…
Ripple Labs filed a Form C with the Court of Appeals on Thursday, escalating its legal battle with the US Securities and Exchange Commission (SEC). The motion is a pre-argument statement asking the appellate court to apply a “new” standard, essentially a reassessment of an earlier Southern District of New York ruling regarding Ripple’s XRP trading and securities classification. be. The appeal questions whether the district court’s use of the Howey test was appropriate to classify XRP as an investment contract. Specifically, Ripple believes that the sale of XRP to financial institutions should not be treated as a securities transaction…