stablecoin issuer Tether On Saturday, the Wall Street Journal’s report on using forged documents and front companies to gain banking access answered. The USDT issuer described the report as another FUD against itself.
Tether, which published a blog post to reject the Wall Street Journal’s report, claimed that the news was completely false and misleading. The company also participates in programs such as anti-money laundering, counter-terrorism and KYC with different partners. mentioned.
According to the blog, Bitfinex and Tether is always helping global law enforcement, the US Department of Justice and other law enforcement agencies to prevent money laundering, terrorism and other crimes.
Koinfinans.com As we reported, Tether, USDT or companies will continue to provide “the most liquid and reliable stablecoin experience” despite FUD. The company reported a profit of $700 million in Q4 2022, consolidated total assets of at least $67 billion and excess reserves of at least $960 million.
In fact, Tether has always faced controversy and blame for the widespread use of USDT stablecoin in the crypto market. Similarly, banks play a crucial role in maintaining stablecoin liquidity in the market. The firm was also linked to beleaguered crypto exchange FTX, but the link was never proven.
What WSJ Said About Tether
The Wall Street Journal report claims that Tether and related brokers used fake documents and shell companies to gain banking access in 2018.
The article, quoted from the emails of Tether Holdings co-owner Stephen Moore, shows that a China-based trader used fake invoices and contacts to gain banking access.
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