Tether's CEO, Paolo Ardoino, has strongly refuted claims that the stablecoin issuer is under investigation by U.S. law enforcement. In response to a report by The Wall Street Journal that suggested federal prosecutors were looking into potential violations of sanctions and anti-money laundering regulations, Ardoino stated on social media that there was 'no indication' of any such investigation. He criticized the Journal for perpetuating old rumors and emphasized that Tether has demonstrated cooperation with law enforcement to combat misuse of cryptocurrencies. Tether, which issues the USDT stablecoin, continues to be a significant player in the crypto market with a valuation of approximately $120 billion. However, it has faced scrutiny regarding the transparency of its reserves, as it has not undergone a full independent audit. Previous allegations included claims of using fake documents and shell companies to facilitate banking access. Tether, amidst these discussions, asserts it maintains rigorous compliance practices and has no awareness of ongoing investigations against it.

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