Tether CEO Paolo Ardoino denies that his company is under investigation by US federal agencies. In his posts on the X platform, he commented the Wall Street Journal (WSJ) publication which refers to a possible investigation of Tether’s activities for violating anti-money laundering laws and non-compliance with sanctions.
«As we told the WSJ, there is no indication that Tether is under investigation. The WSJ is retelling old stories. And everything is», — Ardoino wrote.
Ardoino also he added that Tether regularly cooperates with law enforcement to prevent criminals from using USDT, and if the company was indeed under investigation, it would have been aware of this.
«Based on this, we can confidently state that all the accusations in the article are absolutely false,» he said.
According to the WSJ, the Manhattan prosecutor’s office is investigating whether criminals used the USDT stablecoin to finance illegal transactions or money laundering. The article also states that the US Treasury Department is considering imposing sanctions against Tether due to the use of USDT by entities under US sanctions. This was preceded by another publication of The Wall Street Journal, in which journalists concluded that Tether provides fraudsters and other participants in the shadow financial market with tools to conduct illegal transactions and circumvent sanctions.
In addition, regulators and investors are concerned about the lack of a full independent financial audit of the company.
As a reminder, Tether celebrated its 10th anniversary this month. In addition, the market capitalization of the USDT stablecoin reached a record $120 billion Also for the third quarter of 2024 added 36.25 million new users: the total number of wallets and accounts on the network reached 330 million, which is equivalent to the population of the United States.
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