Paolo Ardoino, CEO of cryptocurrency company Tether, said the business is not under investigation by U.S. federal authorities. The statement follows claims in the Wall Street Journal that Tether may be under investigation for sanctions and anti-money laundering violations.
Tether, and USDT in particular, is the world’s leading stablecoin issuer. Stablecoins are a subset of the cryptocurrency market, typically based on dollars or other non-volatile assets, and represent a more stable aspect of trading in volatile cryptocurrencies.
Prosecutors from the Manhattan U.S. Attorney’s Office were in charge of the federal investigation, according to a Wall Street Journal report published Friday. He is said to have cited an anonymous source with knowledge of the situation.
The Manhattan U.S. Attorney’s Office declined to comment on the case. Similarly, the Treasury Department’s Financial Crimes Enforcement Network did not immediately respond to a request for a statement.
Tether and its CEO have maintained that the 10-year-old company is cooperating with the government, even though it has previously refused to cooperate. “You’d be hard-pressed to find another financial company that can match the level of cooperation with law enforcement and the number of government relationships in 45 countries that Tether has,” said Arduino, who attended the event. . We are celebrating our 40th anniversary.
