Tether CEO Paolo Ardoino has refuted claims that the stablecoin issuer is under investigation by the U.S. government. In a recent tweet, Ardoino stated there is 'no indication' that Tether is being investigated, despite a report from The Wall Street Journal suggesting otherwise. The report alleged that federal prosecutors were examining possible violations of sanctions and anti-money laundering laws, with Tether potentially implicated in funding criminal activities such as drug trafficking. Ardoino dismissed the claims as 'regurgitating old noise' and emphasized that there is no basis for these suggestions. Tether, which operates the USDT stablecoin, is a significant player in the cryptocurrency market with a market capitalization of $120 billion, making it the most traded cryptocurrency. The company has faced scrutiny in the past regarding the backing of its tokens and has not undergone independent audits from major accounting firms. Despite the regulatory challenges, Tether continues to play a crucial role within the crypto ecosystem.

Source 🔗