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Tether Responds to Bloomberg Report About Criminal Probe

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Mon, 26/07/2021 - 16:37
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:

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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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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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