Technology

The Justice Department is reportedly considering filing criminal charges against Tether and Bitfinex executives.

Over the first 3 years Federal investigation report Cryptocurrency stablecoin tether, Bloomberg Reports that it remains a “potential” criminal case. Following this report, Bitcoin’s price soared, temporarily surpassing $ 40,000 for the first time since mid-June.

Unlike Bitcoin and other cryptocurrencies, Stablecoin links its value to another asset (US $ 1 in this case), backed by real money and other holdings. It helps traders to take immediate action without worrying about sudden market fluctuations. but, Many people have documentedBack in 2014, when Tether was introduced, part of its history is missing from the story it tells.

The report claims that prosecutors are focusing on its early history — especially if tether executives commit bank fraud and hide the nature of cryptocurrency transactions from banks. February, Tether and its owner Bitfinex Reconciled with New York Attorney General This included paying a $ 18.5 million fine without acknowledging or denying the accusations from the AG. The truth about the massive losses caused by Bitfinex. “

of statement, Tether called this story “repackaging old claims,” ​​based on unnamed sources and old claims. The company said: “Tether regularly engages in open dialogue with law enforcement agencies, including the US Department of Justice, as part of its commitment to cooperation, transparency and accountability … Tether is a normal business and continues. We are focusing on how to best meet the needs of our customers. “

https://www.theverge.com/2021/7/26/22594699/tether-cryptocurrency-stablecoin-bitfinex-investigation The Justice Department is reportedly considering filing criminal charges against Tether and Bitfinex executives.

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