As a seasoned crypto investor with a decade of experience under my belt, I’ve learned to take such headlines with a grain of salt and approach them with a healthy dose of skepticism. The cryptocurrency market is notorious for its volatility, and rumors can often have a significant impact on prices.
As a crypto investor, I’ve recently learned that the leading stablecoin issuer, Tether, is under investigation by the U.S. authorities, as per a report published on Friday by the Wall Street Journal.
The purpose of the investigation is to find out if Tether has broken any Anti-Money Laundering laws or breached financial sanctions.
According to the report, the stablecoin issuer is facing scrutiny from the Treasury Department over allegedly widespread violation of sanctions. This could lead to restrictions preventing Americans from transacting with Tether.
After the release of the report, the value of Bitcoin dropped significantly, now being traded at approximately $65,971 on the Bitstamp platform. Over the last day, it has decreased by over 3%.
“Old noise”
To clarify, Paolo Ardoino, CEO of Tether, has refuted rumors suggesting a current federal investigation of the company.
According to what we shared with the Wall Street Journal, Tether isn’t currently being investigated. The information being circulated by the WSJ seems to be outdated or unfounded. Period.
Without a doubt, USDT, issued by Tether, holds the top spot among all cryptocurrencies in terms of market value. As per the latest statistics from CoinGecko, its market capitalization amounts to an impressive $120.1 billion at this moment.
Read More
- EUR CAD PREDICTION
- EUR ARS PREDICTION
- EUR MYR PREDICTION
- USD RUB PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- CHR PREDICTION. CHR cryptocurrency
- POL PREDICTION. POL cryptocurrency
- KSM PREDICTION. KSM cryptocurrency
2024-10-25 21:30