Briefly:
The Wall Street Journal article said the federal prosecutor’s office in Manhattan led the investigation. According to the report, one of the areas being scrutinized is that this virtual currency company has been used to fund illegal activities such as drug trafficking, terrorism, hacking and laundering of proceeds obtained through such activities. The question is whether it is being used by three parties. “There is no indication that Tether is under investigation,” Tether CEO Paolo Ardoino told X.
Tether CEO Paolo Ardoino said late Friday that there was no indication the company was under investigation. The post cited unnamed sources claiming that the cryptocurrency company was being scrutinized by federal investigators led by the U.S. Attorney’s Office in Manhattan for possible violations of anti-money laundering and sanctions rules. This follows an article in the Wall Street Journal.
However, Ardonio quickly responded to the claims through a post on X, saying, “There is no indication that Tether is under investigation.”
According to the WSJ article, potential violations under scrutiny include the use of virtual currency companies to fund illegal activities such as drug trafficking, terrorism, hacking and laundering of proceeds obtained through such activities. This includes whether the information is being used by a third party.
A Tether spokesperson echoed CEO Ardoino’s comments, saying that U.S. news outlets “have no authority on record to confirm these rumors, yet we cannot confidently confirm them.” “I wrote the article,” he said, adding that the article did not name any sources.
“These stories are based on pure ranking speculation, even though Tether has confirmed that it has no knowledge of any such investigation into the company. The spokesperson added: .
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