Tether, the largest stablecoin in the crypto industry, is facing accusations of being involved in the largest financial fraud in history. The CEO of Tether has recently resigned. Binance, a major crypto exchange, is also under scrutiny and is being urged to be prosecuted by a pro-crypto senator. Tether has been linked to illicit finance, including being used by terrorist organizations and sanctioned individuals. Thousands of people have fallen victim to scammers using Tether, with the company refusing to help them recover their money.
Tether keeps showing up in investigations tied to illicit finance. In the past year, the world's most popular cryptocurrency appears to have been used for Hamas, drug dealers, North Korea and sanctioned Russians. https://t.co/z9Nt0quSWA
A pro-crypto senator just sent a letter to the US attorney general to prosecute Binance & Tether, and cited Tethers previous enforcement actions against them. I’m sure legitimate institutionalized investors are tripping their over their shoelaces to buy more Tethers.
.@SenLummis is urging the US Department of Justice to prosecute @Binance and @Tether_to. "We’ve got to prevent Hamas, Hezbollah, and other terrorist organisations from using digital assets, using cryptocurrency as a means to finance their activities," she told the Senate Banking… https://t.co/kDcgbbCGfW
Absolute horseshit. There’s thousands of people that fell victim to scammers using Tether to steal tens of billions of dollars via pig butchering. Tether tells these people to go pound sand when they try to get their money back. Tether doesn’t care about anyone but themselves. https://t.co/ynzILZPKgt
.@binance has accused U.S. regulator @CFTC of seeking to police the world as the crypto exchange looks to fight federal charges. @jackschickler reports. https://t.co/BhDAOs7zaX
There’s not an egg big enough to splat on the face of the crypto industry when Tether goes under. The largest financial fraud in history right in front of everyone and ya’ll try to pretend it’s not there. The so-called “CEO” just resigned from Tether.