Unsubstantiated Tether Investigation

in #leofinance25 days ago

Screenshot 2024-10-27 at 12.13.25 PM.png
source

Are we back to the old FUD playbook. The United States federal government is investigating stablecoin issuer Tether, The Wall Street Journal (WSJ) reported in an exclusive article on Friday.

Screenshot 2024-10-27 at 12.14.16 PM.png
source

It was reported that the US Attorney’s Office for the Southern District of New York, is carrying out a criminal investigation of the use of Tether (USDT) by third parties to fund illicit activities or launder money generated by those activities. I don't know why this is making waves as that investigation has been going on for several years. Simultaneously, the Treasury Department is considering sanctioning Tether because of its widespread use by individuals and groups sanctioned by the US, including the terrorist group Hamas and Russian arms dealers. When you consider up to $190 billion in USDT is traded daily the percent that's used for illegal activity is likely less than that of US dollar (USD).

Screenshot 2024-10-27 at 12.14.55 PM.png

The fact that people are claiming Tether is somehow involved in aiding criminal actors or sidestepping sanctions is outrageous and wildly irresponsible. Tether has a well-documented and extensive dealings with law enforcement to crack down on bad actors seeking to misuse tether and other cryptocurrencies. I written on both the allegations and action of Tether in past. This seems like story written to just cause noise with broad strokes and information that's been public from sometime. I would expect more out of paper like WSJ...

Sort:  

Due to this news, it may come down

You received an upvote of 37% from Precious the Silver Mermaid!

Please remember to contribute great content to the #SilverGoldStackers tag to create another Precious Gem.

Yeah, definitely a whole lot of FUD there. You never see them investigating the US Dollar or precious metals or diamonds like they do crypto. I have a feeling we are going to be the scapegoat for a long time to come until people finally figure it out.

I would agree it's a easy target and a good way for to get a some easy publicity.

For sure!

What's wrong with usdt, people will use it however they want

Congratulations @cryptictruth! You received a personal badge!

You powered-up at least 10 HIVE on Hive Power Up Day!
Wait until the end of Power Up Day to find out the size of your Power-Bee.
May the Hive Power be with you!

You can view your badges on your board and compare yourself to others in the Ranking

Check out our last posts:

Hive Power Up Month Challenge - October 2024 Winners List
Be ready for the November edition of the Hive Power Up Month!
Hive Power Up Day - November 1st 2024