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Cryptocurrency News Articles
Tether CEO Paolo Ardoino Denies WSJ Report Claiming His Firm Is Being Probed by Federal Agencies
Oct 28, 2024 at 12:55 am
Paolo Ardoino, the CEO of stablecoin issuer Tether, is squashing rumors that his firm is being probed by federal agencies.
Stablecoin issuer Tether is squashing rumors that the company is being probed by federal agencies.
In a post on the social media platform X, Tether CEO Paolo Ardoino is addressing a Wall Street Journal (WSJ) report, which claims that authorities are investigating Tether for potential violations of anti-money laundering and sanctions laws.
The WSJ reports that the Manhattan U.S. Attorney’s Office is looking into whether Tether’s USDT has been used by bad actors to fund illegal activities or launder the proceeds generated by the criminal acts.
The report also claims that the Treasury Department is looking at possibly sanctioning Tether for the “widespread use” of USDT among entities sanctioned by the US.
In response, Ardoino says the WSJ is merely recycling long-played-out narratives.
“As we told the WSJ, there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.”
Ardoino also highlights that Tether has been routinely cooperating with US authorities to prevent bad actors from using USDT to fund illicit activities.
“At Tether, we deal regularly and directly with law enforcement officials to help prevent rogue nations, terrorists and criminals from misusing USDT.
We would know if we are being investigated as the article falsely claimed. Based on that, we can confirm that the allegations in the article are unequivocally false.”
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