Tether's CEO, Paolo Ardoino, has refuted claims made in a Wall Street Journal report suggesting that the stablecoin issuer is under investigation by U.S. authorities for potential sanctions and money-laundering violations. In a tweet, Ardoino asserted that there was 'no indication' of any such investigation and criticized the report as a rehash of old allegations. He emphasized the irresponsibility of publishing unconfirmed rumors, stating that Tether has cooperated with law enforcement to address the misuse of their cryptocurrency. The report had alleged that federal prosecutors were examining whether Tether was being used to fund criminal activities, including drug trafficking. Ardoino's firm, which operates the largest stablecoin, has faced skepticism regarding the legitimacy of its reserves in the past. Amid regulatory scrutiny, Tether's prominence as a trading tool remains significant in the crypto market, underlining its role as a pivotal asset in cryptocurrency transactions across various platforms.

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