Bitcoin falls after a report says the FBI is investigating Tether

October 25, 2024
-FCHFX

October 25, 2024 at 07:04PM
A report in the WSJ could cool the crypto market.

DOJ and Treasury investigating Tether over potential sanctions violations and illicit activity

Manhattan US attorneys leading criminal probe into possible links to drugs, terrorism, hacking

Treasury mulling sanctions against world’s most traded crypto ($190B daily volume)

Comes as Tether steps up compliance, recently froze 1,850 wallets worth $114M

Investigation examining if stablecoin used to evade sanctions by Hamas, Russian arms dealers

Tether strongly denies allegations, says working with law enforcement

Cantor Fitzgerald manages $80B+ of Tether’s Treasury holdings

Follows $4.3B Binance settlement and previous $61M regulatory fine

Bitcoin is down 2.5% to $66,450 today and is under pressure on this report as it’s a sign that the whole ecosystem is under threat.

This article was written by Adam Button at www.forexlive.com.

Bitcoin falls after a report says the FBI is investigating Tether

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