The post Tether Denies Allegations Amidst US Probe appeared first on Coinpedia Fintech News
Tether, the largest stablecoin by market cap, is under investigation by federal prosecutors in Manhattan for potential money laundering and sanction violations. Tether denounced the report as unverified speculation. However, the crypto market data indicates that rumors regarding the probe against the stablecoin have heavily impacted the entire crypto market. Here is what you should know.
Tether Faces US Probe Over Alleged Criminal Activity
It was on Friday that the media report regarding the probe against Tether for potential money laundering and sanction violation was released by a prominent US media source. The report claimed that federal prosecutors in Manhattan are investigating the possible use of Tether in illegal activities like drug trafficking and terrorism.
Tether’s Denial of Allegations
Tether was swift to respond to the report. It dismissed the report as unverifi
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