U.S. Federal Investigation into Tether Triggers Turmoil in Crypto Market 4 to 25% Sudden Correction
The U.S. federal government is reportedly investigating Tether, the prominent stablecoin issuer, amid concerns over its potential involvement in funding illicit activities. According to an exclusive report by The Wall Street Journal on 25th October, both the Justice Department and the Treasury Department are examining Tether’s operations, which have come under scrutiny for their widespread use in transactions linked to sanctioned individuals and groups, including Hamas and Russian arms dealers.
The investigation, led by the U.S. Attorney’s Office for the Southern District of New York, focuses on the potential use of Tether’s USDT for money laundering and other criminal activities. This inquiry has reportedly been ongoing for several years. Tether’s CEO, Paolo Ardoino, dismissed the news as “old noise” and expressed outrage at the implications, asserting that the article inaccurately suggests Tether supports criminal enterprises.
Tether CEO Paolo Ardoino took to X to deny Tether investigation rumors circulated by the Wall Street Journal.
"As we told to WSJ there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop."
This situation has caused some fluctuations in the crypto market, with USDT briefly de-pegging from its $1 value.
This news is of course welcomed by crypto bookies with the usual great profits. This news bring the Crypto Market sudden correction 4-25% of price correction in two times of candle during 4 hours which bring 139609 traders were liquidated with total liquidation of $390.66 millions.
Are you the one? Do not forget its can be chance if situation like that. Make sure your margin ratio below 1% or put SL.
