JPMorgan is part of the Office of Foreign Assets Control (OFAC), a financial intelligence and enforcement agency within the U.S. Treasury Department, although it is not a U.S. agency. Tether (USDT) He claimed that he could exercise control over it.
In a report published Thursday, a team of analysts led by Nikolaos Panigirtzoglou noted that “US regulators may exercise some control over offshore use of Tether through OFAC.” They cited Tether’s relationship with Tornado Cash, a privacy enhancement platform on the Ethereum network, as an example of this control.
Tether CEO Paolo Ardoino responded by suggesting that JPMorgan’s concerns stemmed from jealousy over the development of financial and payment services. “JPMorgan’s current concerns appear to be more about envy over the evolution of financial and payment services that they have ignored for a decade and are now upset that it is getting so much attention,” Ardoino said.
Ardoino continued his words as follows:
“If I were them, I would be more concerned about their total fines of $39 billion.”
Earlier this month, Ardoino reported that JPMorgan Tether’s growing concentration cryptocurrency He labeled JPMorgan a “hypocrite” when he said it was negative for the markets.
*This is not investment advice.
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