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Tether Responds to Bloomberg Report About Criminal Probe

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Mon, 07/26/2021 - 16:37
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Alex Dovbnya
Tether claims that the Bloomberg article is based on “years-old” allegations
Tether Responds to Bloomberg Report About Criminal Probe
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Stablecoin issuer Tether has issued a statement about a bombshell Bloomberg report, which states that its executives are under an investigation by the U.S. Department of Justice.

The company claims that the article is “repackaging” stale claims for a newsworthy story that will generate clicks.   

Tether also reiterated that it’s committed to cooperating with the U.S. government and other governments around the world:

We are proud of our role as industry leaders in promoting cooperation between industry and government authorities in the U.S. and around the world. We remain committed to our customers and the industry-leading technology and transparency that has led to our growth.  

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Tether Faces U.S. Criminal Probe
The market appears to have been convinced by Tether’s response, with Bitcoin spiking to $39,328 on the Bitstamp exchange.

In a tweet, Tether CTO Paolo Ardoino claims that someone is attempting to launch a distributed denial-of-service (DDoS) attack on the stablecoin issuer's website. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.