Used Fake Accounts! – Cryptokoin.com

The Wall Street Journal claims that stablecoin issuer Tether has used bank accounts opened with false documents in the past. What do these weighty claims about the altcoin project mean?

Heavy claims for this altcoin from WSC

The Wall Street Journal reported on Friday that Tether used bank accounts on behalf of executives of various companies to maintain its access to the global financial system in 2018, changing the names of these companies slightly. According to the report, Tether, the company behind the world’s largest stablecoin, gained access to bank accounts through forged documents and intermediaries.

The report claims that Crypto Capital Corp., a ‘shadow bank’ that held Tether funds before it was shut down by authorities in 2018, and sister companies Bitfinex and Tether, were able to open at least nine new bank accounts for Asian shell companies in October 2018. pointed to the others. Meanwhile, Paolo Ardoino, chief technology officer of altcoin project Tether, tweeted Friday afternoon that the WSJ report contains “a ton of misinformation and inaccuracies” without giving details.

“There are so many cat-and-mouse tricks that everyone should take advantage of!”

According to the Wall Street Journal, an email seen by Tether Holdings co-owner Stephen Moore opposed the use of counterfeit bills of sale, saying, “I wouldn’t want to discuss any of the above in a potential fraud/money laundering case.” The Journal cites a broker who trades USDT in China.

The report also cited a recording of a conversation with former Tether executive Phil Potter posted on YouTube by Bitfinexed in 2017. “We’ve had banking problems in the past,” Potter said in the recordings. We’ve always been able to get around it or deal with it, open new accounts. “There are a lot of cat-and-mouse tricks that everyone in the Bitcoin industry should take advantage of,” he said.

Cryptocurrency companies have traditionally had trouble securing banking access. Tether in particular has had a large number of bank accounts over the past few years, with some banks closing the accounts of stablecoin issuers. The Wall Journal report came the day after it came under intense scrutiny as crypto-friendly bank Silvergate announced that it would need to re-declare its financial statements and would not meet the deadline for submitting its annual report. Major clients suspended ties with Silvergate, and the stock price plummeted. cryptocoin.comIn recent months, federal regulators have warned banks that their dealings with crypto may invite risk.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram And YouTube join our channel!

Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.

Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.

Show Disclaimer


source site-3